Suzlon Energy Ltd is making waves in the market as its shares climbed 4.79%, reaching Rs 40.49 on the BSE. This surge follows a remarkable 8.5% uptrend over the past four sessions. The renewable energy solutions provider has announced a significant achievement, with its S144, a 3 MW series of wind turbines (extendable up to 3.15 MW), receiving a crucial listing from the Ministry of New and Renewable Energy (MNRE). This listing is a pivotal milestone essential for the successful commercialization of the product.
Suzlon Energy’s stock performance reflects the positive market response to this development, reinforcing investor confidence. The company revealed that the first prototype of the S144 series has already been installed at a hub height of 160m, utilizing a Hybrid Lattice Tubular (HLT) tower at the Gondal site in Gujarat.
In a statement filed with the exchange, JP Chalasani, the Chief Executive Officer at Suzlon Group, expressed the company’s strategic timing in obtaining the MNRE listing, following the enthusiastic market response and strong order inflow for the S144 product. Chalasani highlighted the importance of providing technologically advanced products tailored to the diverse wind regimes and terrains in India, ensuring a higher return on investment for customers.
Chalasani emphasized that the S144 turbine is designed for customization to meet site-specific requirements, aiming for higher Plant Load Factors (PLFs) in consideration of India’s varying wind conditions. He underscored the turbine’s contribution to ‘Make in India’ and ‘Aatmanirbhar Bharat,’ boasting 90% domestic content. Chalasani believes that the S144 – 3 MW series aligns with India’s renewable energy targets, contributing to a more sustainable future.
“The S144 – 3 MW series is a true testament to ‘Make in India’ and ‘Aatmanirbhar Bharat’ with 90 per cent domestic content. We believe that this product will go a long way in driving India’s renewable energy targets towards a more sustainable country. Our comprehensive product portfolio, led by dual star products; the proven and successful S120 – 2.1 MW and the new S144 – 3‐3.15 MW product series of larger wind turbines offer solutions for all Indian wind regimes and sites with an aim to increase generation and reduce LCoE (levelised cost of energy),” Chalasani stated.
The successful listing of the S144 series by the MNRE positions Suzlon Energy to make a significant impact on India’s renewable energy landscape, contributing to the nation’s goals of increased sustainability and energy efficiency. The company’s commitment to innovation and tailored solutions reinforces its position as a key player in the evolving renewable energy sector.
