Suzlon Share Price: Renewable energy solutions provider Suzlon Energy's shares edged higher on Friday, October 27, after the company got an order boost. The stock soared 4 per cent, touching the day's high of Rs 32.9 apiece. The upward movement in the stock came after Suzlon Group bagged an order for a 50.4 MW wind power project from Juniper Green Energy.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

At around 11:46 a.m., shares of Suzlon Energy traded 2.83 per cent higher on BSE at Rs 32.36 apiece. The market capitalisation as of the same time stood at Rs 43,712.26 crore.

"Suzlon secures order for their 3 MW series turbines from Juniper Green Energy Private Limited of 50.4 MW," the filing read.

However, the amount of the order was not disclosed.

According to the filing, Suzlon will install 16 wind turbine generators with a hybrid lattice tubular (HLT) tower of its new product with a rated capacity of 3.15 MW each.

The project is located in the Dwarka district of Gujarat and is expected to be commissioned in 2025. 

Suzlon will supply the wind turbines and execute the project, including erection and commissioning. It will also provide comprehensive operations and maintenance services post-commissioning.

"With significant experience in conceptualising, building, and developing renewable energy assets, we embark on our wind energy journey and look forward to creating many more landmark projects in the future," Naresh Mansukhani, Chief Executive Officer of Juniper Green Energy, said.

Suzlon Energy share price: Past performance 

In 2023 so far, Suzlon Energy shares have gained over 202 per cent, outperforming the benchmark's Nifty50's rise of over 4 per cent.

stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.