Why Suzlon Shares Are Climbing Today

Renewable energy provider Suzlon Group saw its shares jump nearly 2% on Thursday after the company won a wind energy contract.

What Happened: The company has won a significant order for a 31.5 megawatt wind power project in partnership with Integrum Energy Infrastructure.

Suzlon will install 15 wind turbine generators with hybrid lattice tubular towers in Maharashtra and Karnataka. The project is set to start in May 2024.

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Suzlon’s will be responsible for supply, installation, commissioning, and post-commissioning maintenance.

The company said the project can provide electricity to around 20 thousand households and curb around 0.81 lakh tonnes of carbon dioxide emissions per year.

“The Power generated from this project will be used for captive consumption, creating deeper penetration of renewable energy in India,” said JP Chalasani, CEO of Suzlon Group.

Price Action: Suzlon’s share price was up 1.83% at ₹22.25 around noon on Thursday.

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