Suzlon’s stocks surged by 5 percent on March 7 after securing an order for a wind power project from Juniper Green Energy, a renewable energy solutions provider.
Under the agreement, Suzlon will develop a 72.45 MW wind power project in Dwarka district, Gujarat, installing 23 wind turbine generators with a rated capacity of 3.15 MW each. The company will supply the turbines and manage the project’s execution, including erection and commissioning, along with post-commissioning operations and maintenance services.
JP Chalasani, CEO of Suzlon Group, expressed satisfaction with the company’s third order from Juniper Green Energy, emphasizing the latter’s commitment to increasing renewable energy installations in India. He highlighted Suzlon’s portfolio of products tailored for the Indian wind regime, manufactured domestically through a thriving value chain ecosystem.
Reports on March 4 indicated the government’s consideration of reverse auctions for wind capacity power. The Ministry of New and Renewable Energy was reportedly revisiting its stance on reverse auctions due to undersubscription and higher tariff discovery in recent wind bids.
JM Financial noted that while the move could introduce policy uncertainty, its impact might be insignificant given the large market size (>10GW/yr) and evident under-subscription.
Disclaimer: LegalParivar.com advises users to seek advice from certified experts before making any investment decisions.
