Suzlon‘s share price which was trailing in the red on Monday morning shot up sharply after the company announced bagging the massive order.

What Happened: Suzlon Energy on Monday announced, that it has secured an order for 1,166 megawatts, marking the largest single wind energy order in India. Suzlon will install 370 wind turbine generators at three projects in Gujarat, pushing its cumulative order book close to 5 gigawatts as of September 3, 2024.

Suzlon is set to install 370 wind turbine generators (WTGs) featuring the S144 model, equipped with Hybrid Lattice Tubular (HLT) towers, each with a rated capacity of 3.15 megawatts. These installations will take place across two projects for NTPC Renewable Energy Limited, a subsidiary of NTPC Green Energy Limited (NGEL), and one project for IndianOil NTPC Green Energy Pvt. Ltd., a joint venture of NGEL, all located in Gujarat.

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Expressing his pleasure at partnering with NTPC Green Energy Limited, Girish Tanti, Vice Chairman, Suzlon Group, said, “This landmark collaboration reaffirms our commitment to accelerating India's renewable energy transition. Notably, this marks our first direct wind energy order from NGEL, signalling Suzlon's triumphant return to the PSU customer segment."

Suzlon will supply the wind turbines, and execute the project, including erection and commissioning, in Gujarat. It will also undertake operations and maintenance services post-commissioning.

Earlier this month, Suzlon completed the acquisition of a 51% stake in Renom Energy Services, making it a subsidiary of Suzlon Energy.

The company also undertook the sale of its Pune headquarters, One Earth, for ₹440 crore, as part of its strategic plan to unlock capital for reinvestment into its core renewable energy business.

Price Action: Suzlon’s share price was up 2.52% to trade at ₹76.60 in the early hours of trading on Monday.

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