Suzlon secured a 378 MW wind project from NTPC Green, expanding their total partnership to 1,544 MW. As a result, the company has secured its second order from NTPC Green in less than eight months.
Suzlon Energy share price inched higher on Wednesday, April 23, 2025, hitting an intraday high of ₹60.14 on the NSE. The rise in share price followed news that one of India’s leading renewable energy solution providers secured a 378 MW order from NTPC Green. Notably, this is the second order from NTPC Green Energy and is expected to be executed in under eight months. The project will be executed in the Gadag region of Karnataka.
Suzlon has expanded its long-term collaboration with NTPC Green Energy Ltd, marking a key milestone with a consolidated partnership now reaching 1,544 MW. This includes a recent project award of 378 MW, reinforcing Suzlon’s position as a leading player in the wind energy sector and highlighting its continued focus on large-scale, sustainable growth.
As part of this contract, Suzlon will supply 120 S144 Wind Turbine Generators (WTG) with Hybrid Lattice Towers (HLT), each with a rated capacity of 3.15 MW, and also undertake foundation, erection, and commissioning for the project and will provide maintenance and services.
The new project will be implemented in the Gadag region of Karnataka and involves the supply of 120 units of the S144 Wind Turbine Generators, each with a capacity of 3.15 MW. These turbines will be mounted on Hybrid Lattice Towers (HLT). Under this contract, Suzlon will handle the complete scope of work from supplying the turbines to executing the foundation, erection, and commissioning activities. Additionally, the company will be responsible for operations and maintenance services.
Earlier the company received another order of 100.8 MW, where Suzlon will supply 48 S120 wind turbine generators of 2.1 MW each with Hybrid Lattice Towers to Sunsure Energy, along with complete installation, commissioning, and maintenance services.
Girish Tanti, Vice Chairman, Suzlon Group, said, "We are honored to be a strategic partner in NTPC's ambitious vision to accelerate India’s clean energy transition. As NGEL aims to expand its renewable energy portfolio to 60 GW by 2032, this partnership lays a crucial foundation for showcasing the key role of wind in powering India’s largest PSU's renewable journey by providing high‐quality, affordable power. From our first project in Gujarat to expanding into Karnataka, our shared commitment to advancing India’s leadership in the global clean energy movement continues."
JP Chalasani, Chief Executive Officer, Suzlon Group, said, “Securing major and high‐quality projects in the PSU sector is a key part of our growth strategy, and our order with NGEL highlights the success of this approach. It shows our ability to deliver reliable solutions while supporting India’s clean energy goals. This partnership strengthens our role as a trusted partner in India’s renewable energy journey.”
As of Q3FY25, Suzlon Energy reported its highest-ever domestic order book of 5.5 GW, reflecting a 241% growth since December 2023. The company also boasts a global installed wind energy capacity of 20.9 GW and holds a 31% cumulative market share in India.
In Q3FY25, Suzlon Energy delivered strong performance with deliveries reaching 447 MW, up 163% YoY. Revenue stood at ₹2,969 crore, marking a 91% increase on a YoY basis. EBITDA came in at ₹500 crore, jumped by 102% on a YoY basis, while Profit After Tax (PAT) rose to ₹388 crore, up by 91% on a YoY basis.
On a year-to-date (YTD) basis, the share price is down by 4.57%, while over the past 12 months, the stock has gained 45.76%.
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