Suzlon & Jindal Renewables: A Bold 400 MW Wind Power Deal to Decarbonise Steel

Introduction

In a game-changing move for both the renewable energy and steel industries, Suzlon and Jindal Renewables have inked a landmark 400 MW wind power deal. This strategic partnership will significantly contribute to the decarbonisation of steel production, positioning India as a leader in sustainable industrial practices. The collaboration marks Suzlon’s largest commercial and industrial (C&I) win, reinforcing the company’s leadership in the renewable energy sector.

Key Highlights of the Deal

This partnership between Suzlon and Jindal Renewables is poised to set a new benchmark for renewable energy adoption in hard-to-abate sectors like steel production. Some of the key highlights include:

• India’s largest C&I wind power order: The deal includes a 400 MW capacity, making it the largest such order in India.
• Wind turbine installation: Suzlon will install 127 state-of-the-art wind turbine generators (WTGs) with a capacity of 3.15 MW each.
• Targeted regions: The wind turbines will be installed in the Koppal region of Karnataka, with the electricity being used in steel plants in Chhattisgarh and Odisha.

Impact on Steel Production and Decarbonisation

The steel industry is one of the most energy-intensive sectors globally, making decarbonisation efforts critical. By integrating wind energy into its production processes, Jindal Steel is taking a bold step toward reducing its carbon footprint. This partnership not only aids in achieving sustainability goals but also aligns with India’s broader ambition of reaching net-zero emissions by 2070.

Quotes from Industry Leaders

Girish Tanti, Vice Chairman of Suzlon Group, expressed his excitement, stating, “We are proud to partner with Jindal in a bold step toward a low-carbon future. This collaboration redefines industrial sustainability and sets a new benchmark for sustainable practices that foster growth while safeguarding the planet.”

Similarly, Bharat Saxena, President of Jindal Renewables, added, “Our commitment to integrating green energy into steelmaking marks the beginning of a new era in sustainable steel production. This collaboration will help us achieve our net-zero commitment by 2047.”

Suzlon’s Role in India’s Renewable Energy Future

Suzlon continues to be a leader in India’s renewable energy transition. With this latest partnership, Suzlon’s cumulative order book now stands at nearly 5.4 GW, reinforcing its market leadership. The company’s comprehensive product portfolio and expertise in wind energy make it a key player in India’s journey toward a sustainable future.

Share Performance of Suzlon

Shares of Suzlon were trading flat on Friday. On a YTD basis, the stock of Suzlon is up about 97% and in the month of October so far, the stock is down by 6%. 

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.