Why Suzlon Shares Are Upbeat Today

Suzlon’s share price was upbeat on Friday morning as the company announced bagging another order.

What Happened: On Friday, Suzlon announced securing a 225 MW contract from Everrenew Energy Private Limited for their 3 MW series. It will supply 75 wind turbines, each having a rated capacity of 3 MW, to Everrenew Energy for a wind power project.

Everrenew Energy will set up the project in Tamil Nadu at its sites in Vengaimandalam, Trichy district, and Ottapidaram, Tuticorin district. The power generated from this project will serve captive consumption and power C&I customers. The project could serve approximately 1.85 lakh households and reduce around 7.31 lakh tonnes of CO2 emissions annually.

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Suzlon will also handle project oversight, including commissioning, and will undertake comprehensive operations and maintenance services post-commissioning.

The announcement comes as Suzlon’s shares have seen a significant uptick thanks to a steady inflow of orders. On December 15, the company revealed it had won a contract for a 100.8-megawatt wind power project for a global utility company in Gujarat.

On December 21, Suzlon secured an additional order of 193.2 megawatts from The KP Group for a project in the Bharuch district, Gujarat.

Price Action: Suzlon’s share price was up 1.16% to trade at ₹39.15 in early trade on Friday.

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