Why Suzlon Shares Are Up 4% Today

Suzlon‘s share price was back in the green on Friday morning after closing over 1.5% lower on Thursday.

What Happened: Shares of the wind energy major were upbeat since market open on Friday and received a further boost after the company announced bagging a new order. Suzlon received an order for their 3-megawatt series turbines from Juniper Green Energy Private Limited of 50.4 megawatts.

The energy major will install 16 wind turbine generators (WTGs) with a hybrid lattice tubular (HLT) tower of their new product with a rated capacity of 3.15 megawatt each. The project is located in Dwarka district in Gujarat and is expected to be commissioned in 2025.

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The company has placed a repeat order for Suzlon’s largest turbine, the 3.15 megawatt S144-140m model from the 3-megawatt series. This agreement encompasses Suzlon providing the wind turbines (equipment supply) and overseeing the entire project, which includes the erection and commissioning of the turbines. Additionally, Suzlon will continue its involvement by offering comprehensive operations and maintenance services after the commissioning of the project.

The project is part of the bid awarded to Juniper Green Energy by Gujarat Urja Vikas Nigam Ltd.

Price Action: Suzlon’s share price was trading 4.30% higher at ₹32.75 on Friday morning.

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