Hot Pursuit     28-Dec-23
Suzlon Energy gains on bagging order from Apraava Energy
Suzlon Energy added 2.78% to Rs 38.08 after the company secured a new order from Apraava Energy for the development of a 300 MW wind power project.
The company will install 100 wind turbine generators (WTGs) with a hybrid lattice tubular (HLT) tower and a rated capacity of 3 MW each at the client’s site in the state of Karnataka.

The said order is for the company's larger rated 3 MW, S144‐140m turbines from the 3 MW product series.

As part of the agreement, the company will supply the wind turbines (equipment supply) and supervise the project including commissioning. It will also undertake comprehensive operations and maintenance services post‐commissioning.

Girish Tanti, vice chairman, Suzlon Group said, "Apraava has been a long term, repeat customer for us and we are delighted to partner again with them. As India’s renewable energy ambition sets benchmarks across the world, we are honoured to help reputed Renewable Energy companies fulfill their green energy portfolios. We are extremely encouraged by the conducive policy environment, strong government will and an enthusiastic industry response for renewables in the country. Suzlon’s comprehensive and proven product portfolio, customised for the Indian wind regime will be instrumental in ramping up India’s renewable energy capacities in line with our national targets.”

JP Chalasani, chief executive officer, Suzlon Group, said, “I am grateful that Apraava Energy has reaffirmed their faith in us and chosen us again for this crucial project in Karnataka. While the project itself is part of the SECI (tranche XIV) auction, the electricity generated from this project will be used to support Uttar Pradesh Power Corporation (UPPCL) to increase the reach of renewable energy in the country.”

Rajiv Ranjan Mishra, managing director, Apraava Energy said, "We are committed to contributing to India’s energy transition goals and are on an exciting growth journey to expand our green footprint across the country. Apraava is pleased to partner with Suzlon to build our newly secured wind project in Karnataka, in line with the highest operational standards."

The Suzlon Group is one of the leading renewable energy solutions providers in the world with presence in 17 countries.

The company’s consolidated net profit jumped 78.1%YoY to Rs 102.29 crore in Q2 FY24. Net sales declined marginally to Rs 1,417.21 crore in Q2 FY24 as compared with Rs 1,417.21 crore posted in Q2 FY23.

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