Suzlon Energy Receives 400 MW Wind Energy Project From Jindal Renewables Power; Shares Trade Lower

Suzlon Energy Share Price:  Suzlon Group stated that the firm received a 400-megawatt (MW) wind energy contract from Jindal Renewables Power on Thursday. The group stated in a statement that it will establish a wind farm in Karnataka's Koppal region.  Despite the positive development, the stock traded lower in today's session. At around 3:07 pm, the shares were trading at Rs 75.19, down 1.96%.

Through a substantial order of 400 MW from JSP Green Wind 1 Pvt Ltd (SPV of Jindal Renewables Power Pvt Ltd), the Suzlon Group is poised to contribute to decarbonization of solid sectors by harnessing wind power.

Suzlon said, without revealing the precise value of the multi-crore order, that the electricity generated at Jindal Steel and Power's steel plants in Chhattisgarh and Odisha will be used captively.

Also read: Tata Group Stocks Show Mixed Reactions To Ratan Tata's Demise; Tata Elxi, Tata Tech, Tata Consumer Rise; Tata Motors, TCS Down

The vice-chairman of the Suzlon Group stated that the partnership was a bold step towards a low-carbon future for the steel industry by harnessing wind power. Pune-based Suzlon Group is a worldwide leader in renewable energy solutions, with 20.8 GW of wind power capacity installed in 17 countries.

Suzlon Energy Share Performance

In last five sessions, the stock price surged over 3 per cent while in a month the stock price of Suzlon Energy declined over 3 per cent. In a period of 6 months, the stock soared over 78 per cent. This year to till the date (YTD), the stock zoomed over 95 per cent and in a year it rose over 185%.

Suzlon Energy Stock Return

5 Days - 3% up

Lat 30 days- 3% down

In 6 months - 78% Surge

In a year - 185% Surge

Also Read: Dove Soap Maker Unilever Completes Russian Exit