Jan 11, 2017 03:00 PM IST IST | Source: Moneycontrol.com

Suzlon Energy up 5% on order win of 226.8 MW wind power project

Suzlon Energy shares rallied 5 percent intraday Wednesday on winning order of 226.8 MW wind power project from a leading independent power producer (IPP) in Anantapur district of Andhra Pradesh.

Moneycontrol Bureau

Suzlon Energy shares rallied 5 percent intraday Wednesday on winning order of 226.8 MW wind power project from a leading independent power producer (IPP) in Anantapur district of Andhra Pradesh.

The order consists of 108 units of S111 90m tubular tower with rated capacity of 2.1 MW. The project is scheduled for completion by March 2017.

The renewable energy solutions provider in a BSE filing said it has entered into an exclusive supply and installation agreement and engineering & construction of the project.

The company will also be responsible for operation and maintenance services with dedicated life cycle asset management services for an initial period of 10 years.

The project has the potential to provide power to over 1.2 lakh households and reduce 0.48 million tonnes of CO2 emissions per annum, Suzlon said.

In last week, the company has secured 105 MW wind power project from Hyderabad-based Axis Energy Group. This project is scheduled for completion in two phases - first phase will be completed in March 2017 and the second in June 2017.

Meanwhile, the wind turbine maker is set to raise Rs 800 crore (around USD 120 million) from private equity investors Asia Climate Partners (ACP) and Olympus Capital Asia to create a renewable energy platform, according to a media report.

At 10:45 hours IST, the stock was quoting at Rs 15.47, up Rs 0.52, or 3.48 percent on the BSE.

Posted by Sunil Shankar Matkar

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