 "Suzlon Energy climbs on securing new order")
Shares of Suzlon Energy have gained 2% to Rs 21 on the Bombay Stock Exchange (BSE) after securing new order from ReNew Power, an Independent Power Producer (IPP) company. The company will install its 597 90m WTGs (wind turbine generator) with rated capacity of 2 MW at Ellutla site in Ananthpur district, Andhra Pradesh (AP).
The project will provide electricity to 6,000 households and limit 0.195 million tonnes of C02 emissions annually. Suzlon is experiencing strong traction in order inflow and this recent 90 MW order from ReNew Power boosts its new order intake in the first quarter of FY 2016 to over 190 MW from leading IPPs.
“Our mission is to play a pivotal role in meeting India's growing energy needs, which requires us to partner with companies such as Suzlon that have a strong foothold in the Indian market. ReNew Power,today has clean energy assets of more than 1000 MW of commissioned and under-construction projects. As a leading energy company in India, looking to rapidly expand business with highly efficient operations that support our growth objective, ReNew Power is pleased to associate with Suzlon as our partner of choice for developingthis project in Andhra Pradesh, “Sumant Sinha, Chairman & CEO, ReNew Power commented on the development.
The stock opened at Rs 21 and touched a high of Rs 22 on the BSE.