On December 4, 2024, Suzlon Energy shares jumped by over 4% following the announcement of a significant expansion of its partnership with Jindal Renewables. The new project is a 302.4 MW wind power initiative located in the Koppal region of Karnataka. This marks the continuation of a strategic collaboration between the two companies, aimed at accelerating India’s green steel production and supporting the country’s green energy transition.

Record Order Book and Strategic Growth
The new project pushes the total capacity secured by Suzlon from Jindal Renewables to 702.4 MW, making it Suzlon’s largest-ever commercial and industrial (C&I) order from a single customer. This milestone follows a 400 MW captive wind power project secured by Suzlon with Jindal Renewables in the same region just the previous month, highlighting the ongoing strategic collaboration between the two companies.

As of now, C&I customers represent 56% of Suzlon’s total order book, which stands at a record 5.4 GW, the highest order book in the company’s history. This order book strength indicates a robust future for Suzlon Energy in the renewable energy sector.

Project Details and Technological Advancements
Under the strategic agreement, Suzlon will supply 96 S144 wind turbine generators (WTGs) with Hybrid Lattice (HLT) Towers, each with a 3.15 MW capacity. The energy generated from these turbines will be utilized for captive consumption in steel plants in Chhattisgarh and Odisha, enhancing operational sustainability for these plants. The project is a step forward in India's green energy transition and a part of the broader efforts to incorporate more sustainable energy practices into the industrial sector.

Stock Performance and Market Outlook
Suzlon Energy shares have seen substantial growth, with a 5% rise in the past week and an impressive 41% increase over the past six months. Year-to-date (YTD), Suzlon has given over 74% returns, and over the past two years, the stock has provided multibagger returns of more than 600%. Over the last five years, Suzlon shares have delivered a remarkable 3,100% return, showcasing its transformation into one of the most successful renewable energy stocks in the market.

At the time of writing, Suzlon Energy shares were trading at ₹67.23, up by 2.78%, continuing their positive momentum. With a strong order book, strategic partnerships, and consistent growth in its wind power portfolio, Suzlon is well-positioned to capitalize on India’s growing renewable energy sector and contribute significantly to the nation’s green energy goals.