Suzlon Energy shares rose 4% intraday on May 17 as the company secured 99 megawatts of new orders from Vibrant Energy.
Suzlon Group has received an order from Vibrant Energy for 33 Wind Turbine Generators (WTG), including the new 3 MW Series and Hybrid Lattice Tube (HLT) for Suzlon’s 99 MW wind power project) the project is expected to be commissioned in fiscal 2025, Energy said in its regulatory filing.
The order for the larger wind turbine model is from the new 3 MW range – S144-140m is part of the agreement in which Suzlon Energy will supply the wind turbines (equipment supply), provide installation and commissioning services, and integrate operational and post-commissioning maintenance services.
“We are delighted to announce our first order with Vibrant Energy, a well-respected corporate renewable energy solutions provider. This is an important order for us, featuring our 3 MW range of turbines. We are very proud that Suzlon’s technology and service excellence will be our customers’ partners in their renewable energy journey when they trust us,” said J P Chalasani, CEO of Suzlon Group.
“This order targets the C&I (commercial and industrial) consumer segment, which we believe will make an important contribution to India’s future renewable energy vision. I look forward to a long-term partnership with Vibrant Energy in the coming years to build a sustainable A growing India,” he added.
At 9:54 am, Suzlon Energy was quoted at Rs 8.47 on the BSE, up Rs 0.25 or 3.04%.
The stock hit a 52-week high of Rs 12.19 and a 52-week low of Rs 5.43 on December 20, 2022, and July 28, 2022, respectively. It trades 30.52% below its 52-week high and 55.99% above its 52-week low.