Suzlon Energy’s shares spike after winning 300 MW wind energy project from Torrent Power

Suzlon Energy’s shares spiked on Wednesday after the renewable energy solutions provider said it has won a major order of 300 MW from Torrent Power.

Suzlon has bagged a significantly large order for its new 3 MW series of wind turbines to develop a 300 MW wind power project for Torrent Power, the company said in an exchange filing.

The company will install 100 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each. The project is located in Karnataka and is expected to be commissioned in 2025, it added.

“Suzlon and Torrent have a long association of building several Wind Energy projects over the years…It is also wonderful to see that leading Indian corporate houses have taken on the mantle of driving India’s renewable energy journey towards achieving our nation’s net‐zero targets,” said Girish Tanti, Vice Chairman, Suzlon Group.

Suzlon’s shares were last up 4.8% at 9.91 rupees apiece on the BSE. It hit an intraday high of 10.20 rupees, a couple of bucks short of its 52-week high of 12.19 rupees. Torrent Power’s shares were up 3.1% at 551.30 rupees in a swinging Mumbai trade session.

This is the sixth and the largest order for the new Suzlon 3 MW series in less than a month. As part of
the agreement, Suzlon will supply the wind turbines (equipment supply), provide land and execute the

project including erection and commissioning. Suzlon will also provide comprehensive operations and maintenance services post‐commissioning, the company said.Suzlon’s 3 MW turbines feature a 144‐meter rotor diameter and its primary objective is to increase generation, reducing the cost of energy.