Suzlon Energy Secures Largest Renewable Energy Order from NTPC Green Energy

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Suzlon Energy Secures Largest Renewable Energy Order from NTPC Green Energy

Suzlon Energy Ltd. has announced the win of a massive 1,166 MW wind energy order from NTPC Green Energy Ltd. (NGEL), the renewable energy subsidiary of NTPC Ltd.

September 9th, 2024 News

In a significant development, Suzlon Energy Ltd. has announced the win of a massive 1,166 MW wind energy order from NTPC Green Energy Ltd. (NGEL), the renewable energy subsidiary of NTPC Ltd. This achievement sets a new record as the largest wind energy order in India to date, marking a major milestone for Suzlon's growing portfolio.

Order Details and Installation Plan:

The deal involves Suzlon supplying and installing 370 wind turbine generators (WTGs), each with a rated capacity of 3.15 MW, equipped with the company's advanced S144 Hybrid Lattice Tubular (HLT) towers. The turbines will be deployed across three projects located in Gujarat – two under NTPC Renewable Energy and one under IndianOil NTPC Green Energy Pvt. Ltd.

Key Milestones:

Largest Wind Energy Order in India: With this order, Suzlon has secured its position at the forefront of India's wind energy market.
Cumulative Order Book: This order takes Suzlon’s total cumulative order book to its largest-ever size, nearing 5 GW of wind energy projects.
Partnership with NTPC: This is Suzlon’s first direct wind energy collaboration with NTPC Green Energy Ltd., marking a major return to working with public sector undertakings (PSUs).

Suzlon’s Leadership Comments:

Girish Tanti, Vice Chairman of Suzlon Group, expressed enthusiasm about the breakthrough partnership with NTPC Green Energy, emphasizing the company’s successful re-entry into the PSU customer segment.
JP Chalasani, CEO of Suzlon Group, stated that while this order is the largest of its kind in India, it represents the beginning of an ongoing collaboration between Suzlon and NTPC for future wind energy projects.

Project Scope:

As part of the agreement, Suzlon will manage the complete project lifecycle, including:

Supply of wind turbines.
Erection and commissioning of the turbines at the designated sites in Gujarat.
Operations and maintenance services post-commissioning to ensure long-term efficiency.

Financial and Market Impact:

Following the announcement of this landmark deal, Suzlon Energy’s shares surged to the highest level of the day, currently trading 3% higher at ₹77. The stock has witnessed a significant rise of 220% in 2024, reflecting growing investor confidence in Suzlon’s expanding renewable energy portfolio.

Recent Insights:

In a recent interview with CNBC-TV18, Suzlon Group CFO Himanshu Mody confirmed that the company does not have any further plans to monetize non-core assets, signaling a focus on core business growth and future renewable energy ventures.

Key Highlights:

Largest Wind Energy Order in India: Suzlon secures 1,166 MW order from NTPC Green Energy.
Cumulative Order Book Nears 5 GW: The company’s largest-ever project pipeline.
Significant Share Price Growth: Suzlon shares are up by 220% in 2024, trading 3% higher after the order announcement.
Strategic PSU Partnership: First direct order from NTPC Green Energy signals a new era for Suzlon in the public sector.

Conclusion:

Suzlon’s latest order win from NTPC Green Energy is a testament to the company’s robust growth in the renewable energy sector. As India pushes toward green energy goals, Suzlon continues to be a key player in driving the country’s wind energy capacity forward. This milestone not only expands Suzlon's order book but also opens the door for future collaborations in the booming Indian renewable energy market.