Suzlon Energy Secures 302.4 MW Wind Project from Jindal Renewables in Karnataka

SENSEX 80956.33 110.58 (0.14)

NIFTY 50 24467.45 10.3 (0.04)

GOLD 78415 -145 (-0.18)

SILVER 94000 -500 (-0.53)

NASDAQ 19659.39 178.48 (0.91)

FTSE 8335.81 -23.6 (-0.28)

Nikkei 39276.39 27.53 (0.07)

Crude 5843 -1 (-0.02)

USD/INR 84.72 -0.01 (-0.01)

EURO 89.2 -0.02 (-0.02)

POUND 107.64 -0.02 (-0.02)

YEN 0.56 -0.01 (-1.79)

Suzlon Energy Secures 302.4 MW Wind Project from Jindal Renewables in Karnataka

On December 4, Suzlon revealed its latest win—a 302.4 MW wind power project awarded by JSP Green Wind 1 Pvt. Ltd., a subsidiary of Jindal Renewables.

December 4th, 2024 News

Suzlon Energy Ltd., a leading wind energy solutions provider, has announced another milestone in its collaboration with Jindal Renewables. On December 4, Suzlon revealed its latest win—a 302.4 MW wind power project awarded by JSP Green Wind 1 Pvt. Ltd., a subsidiary of Jindal Renewables. This project will be set up in the Koppal region of Karnataka, further advancing India's renewable energy and green steel initiatives.

Largest C&I Order from a Single Customer

Suzlon's partnership with Jindal Renewables has achieved remarkable scale. This new project follows the company’s earlier 400 MW captive wind power project secured in Karnataka just last month. Together, these projects mark Suzlon's largest-ever Commercial and Industrial (C&I) order from a single customer, solidifying its leadership in the sector.

Notably, C&I customers now make up 56% of Suzlon's record-high order book of 5.4 GW, showcasing the growing demand for sustainable energy solutions from large-scale industrial players.

Key Features of the Project

Wind Turbine Supply: Suzlon will deploy 96 of its advanced S144 wind turbine generators (WTGs), featuring Hybrid Lattice (HLT) towers. Each turbine has a capacity of 3.15 MW, ensuring high efficiency and performance.
Energy Utilization: The electricity generated from this project will be used for captive consumption in steel plants located in Chhattisgarh and Odisha, enhancing Jindal's operational sustainability.

Supporting India's Green Steel Mission

This project is a significant step toward aligning industrial operations with India’s renewable energy targets. Girish Tanti, Vice Chairman of the Suzlon Group, emphasized the importance of this collaboration:

“This partnership will propel our joint green steel mission forward while significantly contributing to India's ambitious renewable energy target of 50% electricity from non-fossil fuels by 2030.”

Future Commitments to Renewable Energy

Bharat Saxena, President of Jindal Renewables, expressed optimism for continued collaborations:

“There will be many more such initiatives as we further adapt to renewable energy solutions.”

Suzlon’s Growth Trajectory

Suzlon’s momentum in the wind energy sector is further highlighted by its robust order book. Speaking to CNBC-TV18 on November 21, Suzlon Group CEO JP Chalasani shared that the company’s current orders will be executed within the next 18 to 24 months. While the wind turbine business may experience cyclical trends, Suzlon plans to expand its services division, ensuring steady growth.

Market Impact

The announcement has positively influenced Suzlon’s stock performance. Shares surged by 2.4%, reaching a high of ₹67. Notably, Suzlon's stock has gained an impressive 74% in 2024, reflecting strong investor confidence in the company’s growth and sustainability strategy.

Conclusion
Suzlon Energy’s expanded partnership with Jindal Renewables marks a pivotal moment in India’s journey toward renewable energy and sustainable industrial operations. With these projects, Suzlon continues to lead the charge in providing innovative wind energy solutions while contributing to the nation’s green energy goals.