Suzlon Energy up over 3% on winning 50.40 MW repeat order

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NEW DELHI: Shares of Suzlon Energy climbed over 3 per cent in intraday trade on Monday after the company informed the bourses about its repeat order win of 50.40 MW from a leading power utility. The project consists of 24 units of 120m hybrid tower of S97 project with a rated capacity of 2.1 MW.

The scrip was trading 2.36 per cent higher at Rs 17.76 around 10.46 am (IST). Shares of the company opened at Rs 17.46 and touched a high and low of Rs 17.97 and Rs 17.46, respectively, in the first hour of trade. BSE benchmark Sensex was trading 85.55 points, or 0.32 per cent, higher at 27,120 around the same time.

Suzlon will execute the entire project on a turnkey basis and will provide operation and maintenance services for an initial period of 14 years through an integrated service package.

The project has the potential to provide power to over 27,000 households and reduce 0.10 million tonnes of CO2 emissions per annum. Located in Kutch, Gujarat, the project will be completed by March 2017.

In a BSE filing, the company said, “The S97 series of 2.1 MW WTG features the time-tested Doubly Fed Induction Generator (DFIG) technology, which is designed to maximise generation at low-speed wind sites. It not only delivers higher energy output, but also offers higher returns on investment to customers.”