Suzlon Energy bags new orders of 402 MW from Juniper Green Energy, shares jump 5%

Suzlon Energy on Wednesday said the group has won new orders for the development of 402 megawatts (MW) wind energy projects for Juniper Green Energy at Fatehgarh in Rajasthan.

Suzlon Energy said it will install a total of 134 wind turbine generators (WTGs) with a hybrid lattice tubular (HLT) tower and a rated capacity of 3 MW for both projects at the proposed site. Shares of the company were trading over 4% higher on Wednesday.

The firm pointed out that these are repeat orders from the customer for its larger rated 3 MW, S144‐140m turbines from the 3 MW product series.

As part of the agreement, Suzlon will supply the wind turbines and execute the project including foundation, erection, and commissioning. Suzlon will also undertake comprehensive operations and maintenance services post‐commissioning.

Girish Tanti, vice chairman at Suzlon Group said the company’s proven product portfolio, customised for the Indian wind regime, is dedicated to reducing the cost of energy while increasing affordability and accessibility of renewable energy in line with the national targets. “The order helps Suzlon to expand its footprint in Rajasthan,” he said.

The generated power will be provided under Firm and Dispatchable Renewable Energy (FDRE) hybrid and merchant projects, the company stated in the filing. Projects of this size can provide electricity to about 3.31 lakh households and curb about 13.07 lakh tonnes of CO2 emissions per year, it added.

The Suzlon Group is a renewable energy solutions provider with nearly 20.5 gigawatts (GW) of wind energy capacity installed across 17 countries. The group has about 6 GW of installed capacity outside India. The firm offers a product portfolio led by the 2 MW and 3 MW series of wind turbines.

Shares of the company have gained nearly 20% since the beginning of the year. The stock has gained nearly 395% in the last one year.