Suzlon shares hit upper circuit on bagging 402 MW wind energy project order

In the past year, Suzlon shares skyrocketed 400 percent, quintupling investors' wealth.

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Suzlon Energy shares hit upper circuit on May 22 after securing an order for the development of 402 MW wind energy projects for Juniper Green Energy.

For this project, Suzlon will install 134 wind turbine generators (WTGs) that have a rated capacity of 3 MW each, taking the total to 402 MW.

At 11.45 am, Suzlon shares were quoting at Rs 46.1 apiece on the NSE, higher by 4.1 percent from the previous session's closing price.

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This project can provide 3.31 lakh households with electricity and curb 13.07 lakh tonnes of carbon dioxide emissions per year. Suzlon has proposed to set up the project at a site in Fatehgarh, Rajasthan.

The orders for the wind turbines are a repeat order from Juniper Green Energy for Suzlon's larger rated 3 MW, S144‐140m turbines from the 3 MW product series.

Suzlon will supply the wind turbines and execute the project, which includes the foundation, erection, and commissioning. Suzlon will also undertake comprehensive operations and maintenance services post‐commissioning.

Girish Tanti, Vice Chairman, Suzlon Group, said, "This order helps us expand our footprint in Rajasthan. The electricity generated from these projects will help realise the vision of the Rajasthan government to serve the people of the state with green energy."

According to Suzlon's exchange filings, the last order it won was also awarded by Juniper Green Energy to develop a 72.45 MW wind power project at Dwarka in Gujarat.

In the past year, Suzlon shares skyrocketed 400 percent. During the same time period, the frontline Nifty 50 index has recorded gains of around 23 percent.

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