Suzlon Energy wins order from AMPIN Energy, shares jump 3%

Suzlon Energy on Tuesday announced the company has won a 103.95 megawatt (MW) order from AMPIN Energy Transition. Following this, the stock was trading higher by nearly 3%.

As per the terms of the order, Suzlon will install 33 wind turbine generators (WTGs) with a hybrid lattice tubular (HLT) tower, with a rated capacity of 3.15 MW each. The project will be executed at the client’s site in the Fatehgarh district in Rajasthan, the company said in an exchange filing.

Suzlon Energy will be supplying the 3.15 MW, S144-140m turbines from the company’s 3MW product series. The company will also be responsible for the execution of the project including the erection and commissioning. Suzlon will also undertake comprehensive operations and maintenance following the commissioning of the project, it said.

The project is part of the hybrid project under various bids from the Solar Energy Commission of India (SECI) and commercial and industrial (C&I) customers. According to the company, a project of this size will provide electricity to nearly 85,000 households and reduce carbon dioxide emissions by up to 3.38 lakh tonnes.

Last month, Suzlon Energy won an order for the development of an 81.9 megawatts (MW) wind energy project from Oyster Green Hybrid One. The company announced that as per the terms of the order, Suzlon Energy would install 26 wind turbine generators (WTGs) with an HLT tower with a rated capacity of 3.15 MW each.

The Suzlon Group comprises Suzlon Energy and its subsidiaries. It is a vertically integrated organisation, with in‐house research and development (R&D) centres in Germany, the Netherlands, Denmark, and India. The company has manufacturing facilities spread across multiple locations in India.

Shares of the company have risen by nearly 25% since the beginning of the year. The stock has gained over 216% in the last one year.