Shares of Suzlon Energy ended 3-4 percent up on Thursday, after the wind turbine maker won a 48 MW order in France. The stock has seen huge spikes in volumes post the order win.
The stock has lost around 66 percent odd through this year till now. This order is to supply 24 units of REpower MM 92 turbines. Now these turbines will be allocated in various steps, first of which is expected to be allocated in the beginning of the 2014 itself. It is also expected that all these turbines will be able to cater to almost 48,500 people and additionally it will also offset almost 32000 tonne of carbon emissions.
REpower has had steady business from this particular France company. It has already supplied 21 such units of Turbines earlier.
Additionally, REpower happens to be the cash cow of the company and it is doing pretty great. It has been growing at a CAGR growth of around 35 percent since FY11-FY13. The company has already done installation of almost 2.2 gigawatt in FY13 as such.