Suzlon sizzles: Shares gain over 4% on project deal with Jindal Renewables

Suzlon Energy Share Price: Shares of renewable energy solutions provider Suzlon Energy advanced 4.12 per cent to hit the day’s high of Rs 68.10 on the National Stock Exchange (NSE) during intra-day trade on Wednesday. The uptick in Suzlon’s share price followed the news that the company and Jindal Renewables have expanded their partnership with an additional 302.4 MW wind project.

 

“This second order brings the total capacity from Jindal Renewables to 702.4 MW, making it Suzlon's largest-ever commercial and industrial (C&I) order from a single customer. Last month, Suzlon secured a 400 MW captive wind power project with Jindal Renewables in the same region, highlighting the strategic collaboration between the two companies,” said Suzlon in a release.

 

Under the strategic agreement, Suzlon will supply 96 state-of-the-art S144 wind turbine generators (WTGs) with Hybrid Lattice (HLT) Towers, each rated at a 3.15 MW capacity. The energy generated will be utilised for captive consumption in steel plants located in Chhattisgarh and Odisha, enhancing their operational sustainability and contributing to India's green energy transition.

 

“This collaboration will propel our joint green steel mission forward while significantly contributing to India's ambitious renewable energy target of 50 per cent electricity from non-fossil fuels by 2030,” said Girish Tanti, vice chairman, Suzlon Group.

 

Suzlon Energy share price today

Suzlon Energy shares started today’s session in green at Rs 65.90 against the previous close of Rs 65.40 on the NSE. The stock has since traded in the range of Rs 68.20 - Rs 65.34 on the NSE today.

 

At around 11:38 AM on Wednesday, Suzlon shares were quoted trading at Rs 67.90, up 3.82 per cent from their previous close on the NSE. Nearly 50.78 million shares of Suzlon Energy, worth around Rs 338.76 crore, have exchanged hands on the NSE and BSE so far.

 

In contrast, the BSE Sensex was trading at 81,172.47, up 326.72 points or 0.40 per cent, while the NSE Nifty50 was up 89.80 points or 0.37 per cent at 24,546.95.

 

Suzlon Energy share price history

Historically, Suzlon Energy shares have yielded strong returns for investors. The company’s share price has advanced 3.24 per cent in the last year, 43 per cent in the last six months, and 70 per cent in the last one year.

 

Suzlon Energy shares scaled their 52-week high of Rs 86.04 on the NSE on September 12, 2024, while they fell to a 52-week low of Rs 33.90 on December 21, 2024.

 

About Suzlon Energy

Headquartered in Pune, India, Suzlon Energy, a part of the Suzlon Group, is a leading global renewable energy solution provider. With approximately 20.9 GW of installed wind energy capacity across 17 countries, Suzlon Energy and its subsidiaries have established a significant presence worldwide.  As a vertically integrated organisation, Suzlon operates in-house R&D centres in Germany, the Netherlands, Denmark, and India, complemented by world-class manufacturing facilities across India. The company is focused on creating more carbon-neutral processes and has developed strong solar power competencies. 

 

As of December 4, 2024, Suzlon Energy enjoys a market capitalisation of Rs 92,835.32 crore on the NSE.