Suzlon Energy stock surges on repeat order from Juniper Green Energy

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Suzlon Energy stock surges on repeat order from Juniper Green Energy © Reuters.

India’s leading renewable energy solutions provider, Suzlon Energy, saw a 5% increase in its stock price to Rs 32.90 ($1 = Rs 83.2) on the NSE today, following an announcement of a repeat order from Juniper Green Energy for their S144‐140m turbines from the 3 MW series. This news effectively ended Suzlon’s four-day downturn and sparked renewed buying interest in the stock, with approximately 25.8 million shares traded by mid-morning.

The order consists of supplying 16 wind turbines, each with a rated capacity of 3.15 MW, for a project located in Gujarat’s Dwarka district. The project, awarded to Juniper Green Energy by Gujarat Urja Vikas Nigam Ltd., is expected to be completed by 2025. Once operational, it is projected to supply electricity to roughly 38 thousand households and reduce CO2 emissions by 151,000 tonnes annually.

Suzlon is responsible for all aspects of the project execution, including the erection and commissioning of the turbines. Additionally, they will handle post-commissioning operations and maintenance services.

JP Chalasani, Suzlon’s CEO, conveyed his pleasure at securing another order from Juniper Green Energy, a significant player in India’s renewable energy sector.

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