Suzlon’s shares received a bump on Friday morning after the company announced winning another order.
What Happened: Suzlon Group on Friday announced securing a new order to develop 29.4 megawatts of wind-installed capacity for a 100-megawatt co-located wind-solar hybrid project by BrightNight, a global renewable power producer.
Suzlon will be responsible for installing 14 units of their S120 – 140m wind turbine generators (WTGs) equipped with a Hybrid Lattice Tubular (HLT) tower, each with a rated capacity of 2.1 megawatts. The project will be located in Osmanabad, Maharashtra, and is slated for commissioning in phases, with the initial phase expected to commence in April 2024.
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Suzlon’s scope of work includes supply, installation, and commissioning, along with post-commissioning operation and maintenance services. Electricity generated from the project will be supplied to commercial and industrial customers in the state of Maharashtra.
The company added that a project of this size can provide electricity to 50,000 households and curb 2.5 lakh tonnes of carbon dioxide emissions per year.
Price Action: Suzlon shares jumped over 2% after the announcement, rebounding from the day’s low of ₹24.50. At the time of writing, Suzlon’s share price was down 1.57% to trade at ₹25.10.
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