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Suzlon Energy Shares Tumble 4% on Securing Order From BrightNight

Suzlon Energy's S144 series of 3 MW wind turbines received the RLMM listing. 

Renewable energy solutions provider Suzlon Energy shares, were trading in the red and 4% down on 22 September after the company announced securing an order from BrightNight to set up a 29.4 megawatts wind power project.

Under the project, the company will set up 14 units of its S120 – 140 WTGs (wind turbine generators) with a rated capacity of 2.1 megawatts each in Osmanabad, Maharashtra. The project also includes supplying, installing, and commissioning the wind capacity.

The company will also provide post-commissioning operation and maintenance services.

This is the first order win from BrightNight.

The global power producer BrightNight is developing a 100-megawatt wind-solar power project in Osmanabad, Maharashtra, and the power generated from the project will target the C&I customer segment and will create a deeper penetration of renewable energy in India.

As of August 2023, the company has a total orders of 1,815.1 megawatts, marking its highest ever since 2019.

Last month, the company announced raising funds up to Rs 2,000 crore through QIP (qualified institutional placement) that is aimed at reducing its debt.

At 2:32 pm, the shares of Suzlon Energy were trading at Rs 25.10 or 1.57% below its previous close on NSE.

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