- By Aditya Pratap Singh
- Thu, 05 Dec 2024 12:27 PM (IST)
- Source:JND
Suzlon Energy's share price surged over a per cent during intraday trade on Thursday after the renewable sector company secured a new 302.4 MW wind power project from Jindal group. In the morning the stock opened at Rs 68.20 on the NSE and went on to hit an intraday high of Rs 68.44, a nearly 2% upside against the previous day's closing price of Rs 67.72. However, the renewable energy stock lost the early gain in afternoon trade to trade in the red. At around 12:18 pm, Suzlon's shares were trading at Rs 67.49, down 0.34 per cent.
Suzlon Secures 302.4 MW Deal
The Suzlon Group declared on Wednesday that the company had secured an extra 302.4 MW of wind power ventures from Jindal Renewables in Karnataka. In October, Suzlon declared that it had secured a 400-megawatt (MW) wind power contract from Jindal Renewables Power. The second contract brings Jindal Renewables’ total capacity to 702.4 MW, making it Suzlon’s biggest-ever corporate and industrial (C&I) contract from a single customer.
Under the strategic agreement, Suzlon will supply 96 S144 series wind turbine generators (WTGs) with hybrid lattice (HLT) towers, each with a capacity of 3.15 MW.
Without revealing the precise value of the multi-crore contract, Suzlon said the power generated would be used at its steel plants in Chhattisgarh and Odisha.
"Suzlon and JSP Green Wind 1, a subsidiary of Jindal Renewables, have expanded their partnership with an additional 302.4 MW wind power project in the Koppal region of Karnataka," the group said in a statement.
This collaboration will advance our joint green steel mission, as well as contribute significantly to India’s ambitious renewable energy goal of generating 50 per cent of electricity from non-fossil fuels by 2030, said Girish Tati, Vice President, Suzlon Group. The Pune-based Suzlon Group is one of the world’s leading renewable energy solution providers, with 20.8 GW of installed wind power capacity in 17 countries.