Tuesday’s trading saw a 4% increase in Suzlon Energy Ltd. shares after the renewable energy transition firm said that it had secured an order of 103.95 MW from AMPIN Energy Transition for the supply of 33 wind turbines, each with a rated capacity of 3.15 MW. Suzlon Energy notified stock exchanges that the project, which has a total installed capacity of 103.95 MW, is located at the client’s location in the Rajasthani region of Fatehgarh.
Suzlon Energy shares, The stock increased 4.09 percent after the news to peak at Rs 49.29 on the BSE. Included under the Hybrid Project, it is being bid on by SECI & C&I (Commercial & Industrial) clients. According to Suzlon Energy, a project of this scale may reduce 3.38 lakh tonnes of CO2 emissions annually and supply electricity to 85,000 households.
The larger 3.15 MW S144-140m turbines from the 3 MW product line are being ordered by the firm. Suzlon shall carry out the project, including erection and commissioning, and supply the wind turbines (equipment supply) in accordance with the agreement. After commissioning, Suzlon will also provide thorough operations and maintenance services, the statement stated.
JP Chalasani, CEO of Suzlon Group, stated that AMPIN Energy Transition reiterated its confidence in his organization for the significant project in Rajasthan.
“I’m happy that AMPIN Energy Transition has confirmed their confidence in us for this important Rajasthani initiative. We take great satisfaction in the fact that Suzlon’s technology, end-to-end solutions, and services precisely match the requirements and expectations of our clients.
The expansion of renewable energy in India is a priority for Suzlon and AMPIN Energy Transition, according to Vivek Srivastava, Chief Executive Officer, Suzlon Group, India Business. The industry will continue to incorporate more and more hybrid renewable energy projects in the future; these projects will be essential to a successful energy transition. We are happy that this order is a component of a more extensive hybrid project derived from C&I needs and SECI bids. We are dedicated to providing sustainable energy solutions to drive India Inc.’s growth.”
Marc Desaedeleer, the Independent Director of Suzlon Energy, recently resigned due to concerns regarding corporate governance standards. According to the independent director, there were instances in which Suzlon Energy’s governance practices fell short of his expectations for openness and transparency in communications.
The CEO of Suzlon Energy stated that the concerns expressed were procedurally focused and of a sensitive nature, and that they will be addressed in due course. The management restated that all financial and legal disclosures have been made in accordance with the law and applicable requirements.
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