Shares of Suzlon Energy Ltd rose 3 percent in Wednesday trade after the company updated that it has partnered with Jindal Renewables for an additional 302.4 MW wind project to ramp up green steel production.
With this, Suzlon Energy now has India’s largest cumulative commercial and industrial (C&I) order from a single customer in Karnataka, totaling 702.4 MW. Last month, Jindal Renewables had partnered with Suzlon Energy for a 400 MW order in the Koppal area.
The stock rose 2.62 per cent to an all-time high of Rs 67.13 on BSE. The stock has gained 73.08 per cent so far in 2024, while the BSE Sensex has gained 12.27 per cent in the same period.
Under the strategic agreement, Suzlon Energy will supply 96 state-of-the-art S144 wind turbine generators (WTG) with Hybrid Lattice (HLT) towers, each with a capacity of 3.15 MW. The energy produced will be used for captive consumption at steel plants located in Chhattisgarh and Odisha, enhancing their operational sustainability and contributing to India’s green energy transition.
Girish Tanti, Vice President, Suzlon said, “We are pleased to announce this repeat order from Jindal Renewables, which further strengthens our partnership and reflects the trust they have placed in us. This collaboration is a testament to our joint green Steel will advance the mission, as well as significantly contribute to India’s ambitious renewable energy target of generating 50% electricity from non-fossil fuels by 2030.”
Suzlon Group Chief Executive Officer JP Chalasani said initiatives like this are important to transform difficult sectors like steel into models of sustainable development.
He said, “Integration of renewable energy into industrial operations is not only an opportunity, but also a necessity for a clean and green future.
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