NSESuzlon Energy Ltd. has won its first order from Oyester Green Hybrid One Pvt.
Suzlon will also be responsible for operations and maintenance services post the commissioning.This is the third order that Suzlon has won in the last 10 days.
On May 22, the company won its first order in over two months,On Wednesday, the company won another large order worth 551.25 MW from the Aditya Birla Group.
While Operations and Maintenance continues to be a significant part of the business, it sees that share going down if the manufacturing business grows.
Suzlon now has a net cash balance sheet.Shares of Suzlon are trading 1.1% lower at ₹44.90.
NSE
Suzlon Energy Ltd. has won its first order from Oyester Green Hybrid One Pvt. Ltd., it said in an exchange filing. The order is to supply 26 wind turbines with a rated capacity of 3.15 MW each.The total capacity of the project comes up to 81.9 MW, which will be installed at Agar in Madhya Pradesh.Electricity generated from this project, will be supplied to Commercial & Industrial establishments and also used under a captive model.As per Suzlon, a project of this size can provide electricity to nearly 67,0000 households and curb 2.66 lakh tonnes of Carbon Dioxide emissions every year.The order is for Suzlon's larger rated 3.15 MW, S144-140 turbines from the 3 MW series. Suzlon will also be responsible for operations and maintenance services post the commissioning.This is the third order that Suzlon has won in the last 10 days. On May 22, the company won its first order in over two months,On Wednesday, the company won another large order worth 551.25 MW from the Aditya Birla Group. In an interaction with CNBC-TV18 post its March quarter results, Suzlon Group CFO Himanshu Mody had not quantified the order book they have, but mentioned that the company is in active negotiations with potential clients for large orders.For financial year 2024, Suzlon did deliveries worth 710 MW. While Operations and Maintenance continues to be a significant part of the business, it sees that share going down if the manufacturing business grows. Brokerage firm Nuvama recently initiated coverage on Suzlon Energy with a "buy" rating and a price target of ₹53 per share.Nuvama believes that Suzlon's growth visibility is backed by industry tailwinds, technological edge, high margins in the Operations & Maintenance (O&M) services and balance sheet strength as well. Suzlon now has a net cash balance sheet.Shares of Suzlon are trading 1.1% lower at ₹44.90. The stock is up over 350% in the last 12 months.
