Suzlon Energy gains over 2% on bagging 50.4 MW order in Karnataka

NEW DELHI: Shares of Suzlon Energy advanced over 2 per cent in early trade on Tuesday after wind turbine manufacturer on Monday informed bourses that the group has bagged an order of 50.4 MW to supply 24 units of its S111 turbines of 120 meters from a power producer for its project in Karnataka.

The scrip was trading 1.81 per cent up at Rs 19.70 around 9.50 am (IST). Shares of the company opened at Rs 19.55 and touched an intraday high and low of Rs 19.80 and Rs 19.55, respectively, in trade so far. Benchmark BSE Sensex was up 113.57 points, or 0.38 per cent, at 29689.31 at around the same time.

Suzlon has won a repeat order from the firm for 24 units of S111 120 meter hybrid wind turbine, each with a rated capacity of 2.1 MW, the company said in a statement issued here.

JP Chalasani, Group CEO, Suzlon Group in a release said, “The project will see the first batch of our new S111 120m hybrid wind turbine generator being installed on a commercial scale. The S111 120 m is an innovative product and will be a game-changer in the Indian wind industry, with its cost effective design and superior technology S111 120m will further reduce the levelised cost of energy (LCoE).”