Suzlon Energy trades down 3% despite winning 30 MW wind power project | Top Vip News

Suzlon Energy’s share price fell 3 percent intraday on February 29 despite the company winning a 30 MW wind power project for EDF Renewables.

“Suzlon will install 10 Wind Turbines (WTG) with Hybrid Lattice Tubular Tower (HLT) and a nominal capacity of 3 MW each. The project is located in Gujarat,” the company said.

This is a repeat order for the company’s largest turbine series, S144‐140m with a power of 3 MW.

Suzlon will execute the project with scope of supply, supervision, erection and commissioning. In addition, Suzlon will also carry out maintenance and post-commissioning operations.

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“This order is a testament to the quality and reliability of our technology and service solutions. The power generated from this project will serve the people of Gujarat with clean, green and renewable energy. Suzlon is committed to serving the green portfolios of our customers and the nation with our proven technology, extensive experience and service excellence,” said JP Chalasani, CEO of Suzlon Group.

The stock hit a 52-week high of Rs 50.72 and a 52-week low of Rs 6.96 on February 2, 2024 and March 28, 2023, respectively. Currently, the stock is trading 17.23 percent below its 52-week high and 503.16 percent above its 52-week low.