Multibagger Energy Stock Secures 30 MW Wind Turbine Order In Gujarat; Stock Up 430% In 12 Months

Suzlon Energy Ltd, a leading player in the renewable energy sector, has successfully clinched a 30 MW order from EDF Renewables to supply 10 wind turbines. These turbines, part of Suzlon's largest series, the S144-140m with a 3 MW rating, will be installed in Gujarat, contributing to the state's renewable energy goals.

The project, with a total installed capacity of 30 MW, is poised to make an impact on the environment. The electricity generated will be supplied to Gujarat Urja Vikas Nigam Ltd, benefiting approximately 24,000 households and significantly curbing 97,000 tonnes of carbon dioxide emissions annually, as detailed in the recent exchange filing.

Suzlon Energy's CEO, JP Chalasani, expressed enthusiasm about the project, stating, "The power generated from this project will serve the people of Gujarat with clean, green, renewable power." The company is not only focusing on the initial project execution, which encompasses supply, supervision, erection, and commissioning but will also extend its commitment to post-commissioning operations and maintenance services.

This order follows Suzlon's healthy financial performance, with the manufacturer reporting an impressive 160% surge in quarterly net profit for the October-December period compared to the same period last year. The positive outlook continues as CFO Himanshu Mody shared insights into the company's projections, highlighting a historical trend of outperforming previous quarters.

Despite the recent order announcement, the shares of Suzlon Energy were seen trading with cuts of nearly 2% at Rs 42.45 per share as of 1:10 pm on the National Stock Exchange (NSE). The stock has gained nearly 430% in the last one year.