Share price of one of India’s largest renewable energy solutions providers moved up by nearly 4.9 percent on NSE to Rs. 40.6 on Thursday, compared to its previous close of Rs. 38.7 after the announcement of securing a new order.
With a market cap of Rs. 55,018 crore, Suzlon Energy Ltd. has delivered about 68.4 percent in the last six months compared to nearly 372.09 percent of multibagger returns in the last one year. So far in 2024, it has given around 5.4 percent of positive returns.
According to the data available on the stock exchanges, Suzlon Energy secured a new order for the development of a 72.45 MW wind power project for Juniper Green Energy Private Limited.
Suzlon will install 23 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each at the client’s site located in Dwarka, Gujarat.
This order is for the company’s larger rated 3.15 MW, S144‐140m turbines from the 3 MW product series.
As per the terms of the agreement, Suzlon will supply the wind turbines and execute the project including construction and commissioning. Further, the company will also undertake full operations and maintenance services post‐commissioning.
About 59 thousand families can receive electricity from a project of this size, which would also reduce annual CO2 emissions by around 2.35 lakh tonnes.
Juniper Green Energy, part of the AT Group, is an independent renewable energy power producer and operator of wind, solar and hybrid power projects.
In terms of financials, the revenue from operations of Suzlon Energy grew by 9.78 percent QoQ from Rs. 1,421 crore in Q2 FY23-24 to Rs. 1,560 crore in Q3 FY23-24, accompanied by an increase in net profit by 99.01 percent from Rs. 102 Cr in Q2 FY23-24 to Rs. 203 Cr in Q3 FY23-24.
As of December 2023, FIIs hold 17.83 percent of the shares, whereas DIIs hold 6.16 percent of the shares in the company, aggregating to 23.99 percent of the institutional holdings.
Suzlon Group is one of the leading renewable energy solutions providers in the world with approximately 20.3 GW of wind energy capacity installed across 17 countries, and its manufacturing facilities are spread across 14 locations in India.
It is also the No. 1 wind energy service company in India with the largest service portfolio of over 14.5 GW in wind energy assets.
Written by Shivani Singh
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