Shares of Suzlon Energy Ltd witnessed a gain of over 4% in early trade on November 16, after the renewable energy solutions provider announced that its S144, a 3 MW series of wind turbines (extendable up to 3.15 MW), received the Revised List of Models & Manufacturers (RLMM) listing from the Ministry of New and Renewable Energy (MNRE).
Following the news, Suzlon Energy shares surged 3.8% to an intraday high of Rs 42 on the National Stock Exchange (NSE). At 12:50 pm, the stock traded 3.46% higher at Rs 41.90.
The MNRE listing represents a significant milestone for commercialising Suzlon’s S144 wind turbine series. The company has already installed the first prototype at the Gondal site in Gujarat and is in the process of serial manufacturing.
JP Chalasani, CEO of Suzlon Group, highlighted the positive market response to the S144 product, evident from the strong order inflow. He emphasised the importance of offering technologically advanced products tailored for Indian wind regimes and terrains to ensure customers’ higher return on investment.
The MNRE listing came a day after Suzlon Energy’s inclusion in the MSCI Global Standard index, indicating positive momentum for the company in the renewable energy sector.