Shares of Suzlon Energy Ltd surged 2% on 20 June after the company announced that it had been awarded its third consecutive order from AMPIN Energy Transition to decarbonize India’s power distribution industry.

Suzlon announced in an exchange filing on Friday that it has received a third consecutive repeat order from AMPIN Energy for 170.1 megawatts (MW). The project would be established at Kurnool, Andhra Pradesh.

As part of the agreement, Suzlon will provide 54 of its sophisticated S144 wind turbine generators with Hybrid Lattice Towers, each with a 3.15 MW capacity. Suzlon now has 303 MW of AMPIN orders.

The order will cover the whole project execution process, from equipment supply and installation to commissioning and long-term operations and maintenance.

Suzlon’s shares received attention recently after its promoters sold 19.8 crore shares in block agreements valued at over Rs 1,300 crore. Shares traded at an average price of Rs 66.05 per share.

Goldman Sachs, Motilal Oswal, Societe Generale, ICICI Prudential, and Bandhan MF were among the buyers in the block trade. You may view the whole list here. At the conclusion of the March quarter, India’s Mutual Funds held 4.17% in Suzlon Energy, while promoters held little more than 13%.

At 12:14 pm, the shares of Suzlon Energy were trading 2.73% higher at Rs 64.24 on NSE.

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