Suzlon Energy has completed the acquisition of 51% of the equity share capital of Renom.

Leading provider of renewable energy solutions in India, Suzlon provides clients with a comprehensive 360-degree solutions package that includes all wind energy project types. Suzlon is still at the forefront of creating innovative technologies that optimize energy output while reducing their negative effects on the environment. Our team of professionals puts in endless effort to make sure that each of our solutions is customized to the specific requirements of the individual customer, giving them a competitive advantage in the quickly changing renewable energy market. Suzlon is committed to promoting change in the future by providing sustainable energy solutions that are advantageous to the environment and our clients. Our mission to create a cleaner, greener world for future generations is something we are proud to be leading India’s renewable energy revolution.

51% stake holding in Renom Energy by Suzlon:

Renom Energy Services is now a subsidiary of Suzlon Energy after Suzlon Energy completed the purchase of 51% of the company’s equity share capital. Renom is now a subsidiary of the business following the aforementioned acquisition. A conveyance deed for the sale of Suzlon Energy’s corporate office, “One Earth Property,” was recently signed with OE Business Park Pvt. Ltd.

The entire transaction will cost Rs. 440 crore, of which 411.21 crore will go toward transportation and the remaining 28.79 crore will go toward stamp duty and other registration costs being reimbursed. According to a BSE filing, the board of Suzlon Energy Ltd. approved the purchase of a 76% stake in Renom Energy Services in August for a sum of Rs 660 crore.

Suzlon bagged a project from NTPC:

NTPC Green Energy Limited, the Renewables Arm of NTPC, awarded Suzlon Energy the largest wind energy order in India, totaling 1,166 MW.

Suzlon is set to install 370 wind turbine generators (WTGs) at two projects owned by Indian Oil NTPC Green Energy Pvt. Ltd. and NTPC Renewable Energy Limited. The WTGs are S144 models with a hybrid lattice tubular (HLT) tower and a rated capacity of 3.15 MW each. This win will give Suzlon almost 5 GW in its largest-ever cumulative order book as of September 3, 2024.

Suzlon Energy Ltd. stock is slightly down today:

The stock of Suzlon Energy Ltd. is currently trading at Rs. 73.97 per share, down 1% from its peak of Rs. 77.28 per share, up nearly 3% in the morning session. Given the acquisition of Renom Energy and the order it received from NTPC, the stock is expected to rise. The stock has increased by 95% so far this year and by 215% over the last 12 months, resulting in a tripled value.

Conclusion: Suzlon Energy’s recent acquisition of a project from NTPC and its 51% ownership stake in Renom Energy are excellent investments for the company’s expansion.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.