Suzlon Energy Secures 486 MW Hybrid Order from Torrent Power

Suzlon Energy has announced securing a 486 MW hybrid wind energy order from Torrent Power. This marks the fifth order from Torrent Power for Suzlon, bringing their cumulative installed capacity through the partnership to 1 GW. The project will be executed in the Bhogat region of Gujarat.

Order Details

The agreement includes the supply and installation of 162 S144 wind turbine generators (WTGs) with Hybrid Lattice Towers. Each turbine has a capacity of 3 MW and is designed for optimal performance, even in low-wind areas.

Partnership 

This deal is a continuation of Suzlon’s decade-long association with Torrent Power. The companies have previously collaborated on projects across Gujarat and Karnataka. Together, they have been part of India’s push to increase renewable energy’s share in its electricity generation.

No Financial Details Disclosed

The financial specifics of the contract have not been disclosed. However, Suzlon’s order book stood at 5.1 GW as of November 2024, signalling demand for its wind energy solutions.

Suzlon’s Performance

In Q2 FY25, Suzlon reported revenue of ₹2,103 crore, a 48% increase year-on-year. Its net profit almost doubled to ₹200 crore. Despite these results, the company’s shares have faced pressure in the broader market.

As of 1:30 PM, on January 24, Suzlon Energy Ltd shares are at ₹52.58, slipping 3.19% today. While it’s taken a 13.41% hit over the past six months, it’s still up by 27.62% over the last year. In contrast, Torrent Power Ltd is having a brighter day, trading at ₹1,468.75 with a 3.12% rise today. Though it dipped 3.34% in the last six months, it soared 46.87% over the year.

Renewable Energy Focus

The project supports India’s renewable energy targets, which include deriving 50% of electricity from renewable sources. It also aligns with the Make in India initiative, focusing on domestic manufacturing and deployment of clean energy solutions.

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