The company made this announcement after market hours on Monday, 12 December 2011.
Meanwhile, the BSE Sensex was up 48.61 points, or 0.31% to 15,918.96.
On BSE, 7.57 lakh shares were traded in the counter as against average daily volume of 35.85 lakh shares over the past one quarter.
The stock hit a high of Rs 21.85 and a low of Rs 21.35 so far during the day. The stock had hit a record low of Rs 21.10 on 21 November 2011. The stock had hit a 52-week high of Rs 58.45 on 21 April 2011.
The stock underperformed the market over the past one month till 12 December 2011, falling 37.55% compared with the Sensex's 7.69% decline. The scrip had also underperformed the market in past one quarter, declining 44.57% as against 3.83% fall in the Sensex.
The mid-cap wind turbine maker has an equity capital of Rs 355.47 crore. Face value per share is Rs 2.
Suzlon Energy said that REpower will supply 5 MM92 turbines for 10.25 megawatts (MW) wind farm at Earis Hall Farm near Clacton-on-Sea in Essex. REpower will supply 12 MM82 turbines at Hall Farm, located 5 kilometres (KM) north of Beverly, North Humberside, which will have a capacity of 24.6 MW, Suzlon said in a statement.
Suzlon Energy said that this is the first contract REpower has signed with Germany-based Renerco Renewable Energy Concepts AG. REpower has already supplied 8 MM92 turbines to Ridgewind/HG Capital for the Bagmoor wind farm, Suzlon further added.
Suzlon Energy said that the turbines at Earis Hall Farm, with a rated output of 2.05 MW each, will generate enough electricity to power the equivalent of at least 5,500 homes annually. The 12 MM82 turbines at Hall Farm will generate power for at least 14,000 homes annually. Together, these wind farms will be able to meet the energy demands of nearly 20,000 homes, Suzlon said in a statement. Construction at Earis Hall Farm will start in the summer of 2012, and scheduled for completion later in the year. Hall Farm will start in the spring with a similar completion date, Suzlon further added.
Commenting on the development, Mr Rick Eggleston, MD, REpower, UK said, "We're delighted to have won two onshore contracts in quick succession. Our continued success is testament to the quality and reliability of our turbines, and the continued buoyancy of the onshore wind market. We're immensely proud to be working on our second project with Ridgewind/HG Capital, and it is a pleasure to be supplying turbines to Renerco for the first time".
REpower, a subsidiary of Suzlon Energy has thus far delivered 36 onshore wind farms in Scotland, England and Wales and one offshore wind farm named Project Beatrice in the North Sea. The company's largest offshore contract is currently underway, with the company currently commissioning the 30 REpower 5M wind turbines for Vattenfall's Ormonde wind farm in the Irish Sea, with a total output of 150 MW.
On a consolidated basis, Suzlon Energy reported a net profit of Rs 48 crore in Q2 September 2011, compared with a net loss of Rs 369.23 crore in Q2 September 2010. Net sales rose 34.5% to Rs 5071.10 crore in Q2 September 2011 over Q2 September 2010.
The Suzlon Group is ranked as the world's fifth largest wind turbine supplier, in terms of cumulative installed capacity, at the end of 2010. The company's global spread extends across Asia, Australia, Europe, Africa and North and South America with over 18,000 MW of wind energy capacity installed in 28 countries, operations across 32 countries and a workforce of over 13,000.
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