Suzlon Energy Secures Contract for 81.9 MW Wind Project
Suzlon Energy revealed a recent contract acquisition to construct an 81.9 MW wind power venture for Oyster Green Hybrid One. The project entails the installation of 26 wind turbine generators (WTGs) equipped with hybrid lattice tubular (HLT) towers, boasting a rated capacity of 3.15 MW each, at Agar, Madhya Pradesh.
This particular order pertains to Suzlon Energy's larger rated 3.15 MW turbines, specifically the S144-140m model from their 3 MW product series. Under the terms of the agreement, the company will handle both the supply of wind turbines (equipment provision) and the project's execution, encompassing erection and commissioning. Additionally, Suzlon Energy will be responsible for providing comprehensive operations and maintenance services after the commissioning phase.
Vivek Srivastava, Chief Executive Officer (CFO) of Suzlon Group's India Business, remarked that the electricity produced by this project aims to serve the C&I customer segment, fostering a broader adoption of renewable energy in India. He emphasized Suzlon's strong dedication to fueling industries with sustainable green energy, thereby supporting their advancement and assisting them in achieving their net-zero objectives.
Ateesh Samant, Chief Operating Officer, Oyster Green Hybrid One, said, "At Oyster Green Hybrid One, we are focussed on increasing our green power portfolio through wind and wind-solar hybrid projects. We always strive for alliances that help us in our journey of increasing the reach of renewable energy in India with a focus on sustainability. We are positive that being the nation's largest renewable energy solutions provider, Suzlon's technological expertise and manufacturing capabilities will allow us to grow our green energy portfolio and serve our customers with a shared ideology".
Suzlon Energy operates in the field of designing, developing, manufacturing, and supplying wind turbine generators (WTGs). It stands as India's leading provider of renewable energy solutions, with a presence spanning 17 countries across six continents. In Q4 FY24, the company saw a 9.21% decrease in its consolidated net profit to Rs 254.12 crore compared to Rs 279.89 crore in Q4 FY23. However, revenue from operations showed a robust growth of 28.95% year on year (YoY), reaching Rs 2,179.20 crore for the quarter ending on 31 March 2024. Currently, the company's stock has risen by 0.86% and is trading at Rs 45.75 on the BSE.