PUNE: Furthering its strategic focus on building long-term, high-impact partnerships, Suzlon has just consolidated its largest partnership with NTPC Green Energy Ltd. (NGEL) to 1,544 MW, with a recent award win of a 378 MW wind energy project. This win strengthens Suzlon’s undisputed market leadership and commitment to sustainable, large-scale growth.

As part of this contract, Suzlon will supply 120 S144 Wind Turbine Generators (WTG) with Hybrid Lattice Towers (HLT), each with a rated capacity of 3.15 MW, and also undertake foundation, erection, and commissioning for the project, and will provide maintenance and services.

Girish Tanti, Vice Chairman, Suzlon Group, said, “We are honored to be a strategic partner in NTPC’s ambitious vision to accelerate India’s clean energy transition. As NGEL aims to expand its renewable energy portfolio to 60 GW by 2032, this partnership lays a crucial foundation for showcasing the key role of wind in powering India’s largest PSUs’ renewable journey by providing high-quality, affordable power. From our first project in Gujarat to expanding into Karnataka, our shared commitment to advancing India’s leadership in the global clean energy movement continues.”

JP Chalasani, Chief Executive Officer, Suzlon Group, said, “Securing major and high-quality projects in the PSU sector is a key part of our growth strategy, and our order with NGEL highlights the success of this approach. It shows our ability to deliver reliable solutions while supporting India’s clean energy goals. This partnership strengthens our role as a trusted partner in India’s renewable energy journey.”

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INDIA: Suzlon Group, India’s largest renewable energy solutions provider, today announced a new order win for the development of a 47.6 MW wind power project for The KP Group. The project is located at Vagra in Bharuch district in Gujarat and is expected to be commissioned in 2024. 

Suzlon will supply their S133 wind turbines (equipment supply) and supervise the execution and commissioning of the project. Suzlon will also provide comprehensive operations and maintenance services post-commissioning.

JP Chalasani, Chief Executive Office, Suzlon Group said, “We are delighted to announce a repeat order from The KP Group. The KP Group has been a long-standing player in renewable energy and has consistently worked towards increasing renewable energy adoption in the country. Suzlon takes pride in the fact that committed customers like The KP Group continue to select our leading technology and comprehensive capabilities throughout the entire wind energy value chain. The power generated from this project will serve the Commercial & Industrial (C&I) consumer segment, which is a key segment to drive deeper penetration of renewables in India.  Suzlon is committed to partnering with an increasing number of Indian industries, driving them toward their net-zero targets while powering the nation with sustainable energy”

Every Suzlon turbine ranging over 80%-90% on domestic content and manufactured in the country through a thriving domestic value chain is a testament to our contribution to the vision of an Aatmanirbhar Bharat.

Dr. Farukbhai Gulambhai Patel, Chairman and Managing Director, of KP Group said, “This project is in line with our goal to unlock India’s renewable energy potential and power the commercial and industrial sectors. As India’s leading renewable energy solutions provider with proven technology, Suzlon is the right partner for us. We have had a long and fruitful association with Suzlon in the past using their cost-effective Made-in-India solutions to create an ‘Aatmanirbhar Bharat’. With nearly three decades of serving India with renewable energy, The KP Group is focussed on increasing its green energy footprint in India helping our customers power their growth and electricity requirements with clean energy.”

Suzlon turbines feature the time-tested Doubly Fed Induction Generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon’s R&D efforts are continuously geared towards increasing turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.

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INDIA: Suzlon Group, India’s largest renewable energy solutions provider, announced its fourth quarter (Q4 FY23) and annual audited results for the financial year 2022-23 (FY23).

Girish Tanti, Vice Chairman, Suzlon Group, said, “It is heartening that our efforts to strengthen the organization and position it strongly in time to meet increasing market demand have been successful. As evident from these results we have closed FY23 with a strong financial performance and the successful launch of our powerful 3 MW technology platform. Our key strategic initiatives remain on track to fuel the long-term growth of the company. With a slew of encouraging policy initiatives from the government in 2023, the sector now has much-needed visibility, providing momentum for industries to kick-start their journey to net zero, thereby driving balanced and viable growth of the sector. As we embark on a revitalized growth journey, we would like to express our deepest gratitude to all our stakeholders for standing by us during challenging times and look forward to strengthening our relationship further in the next phase of growth for the Group.”

JP Chalasani, Chief Executive Officer, of Suzlon Group said, “FY23 has been a year of demonstration and consolidation for Suzlon. We have addressed our challenges comprehensively over the last three years and FY23 was a year where the results were there for all to see. We reduced our net debt by more than 90% percent over the last three years to address our capital structure issues while responding to the market requirement of a larger wind turbine through our S144 – 3 MW series technology platform. Today we have cumulative orders of 1,542 MW which is the highest since 2019 and includes the order book as on March 31, 2023, of 652 MW plus orders secured subsequently of 890 MW.  Out of this 780 MW is for our new 3 MW series demonstrating the immense trust that our customers have in Suzlon’s expertise and product technology. We have worked tirelessly and successfully to strengthen every aspect of the company in line with the vision defined by our late CMD Shri. Tulsi Tanti, setting up the company strongly to leverage the tailwinds of the sector from a position of strength.”

Himanshu Mody, Chief Financial Officer, of Suzlon Group, said, “FY23 has been a gratifying year for us with strong results across all parameters. Our balance sheet is stronger and leaner as a result of net debt reduction to INR 1,180 crores with the successful Rights Issue in FY23 playing a crucial role. Our consolidated FY23 PAT before exceptional items of Rs. 167 crores is the highest reported by the company in 6 years and we turned net worth positive after a decade. With consistent efforts, I am happy to say that all balance sheet issues of the past have been resolved in FY23 and our fundamentals have strengthened with a bottom-line focus. These results have come at the right time when India’s overall financial climate is encouraging wherein inflation is under control, and the economy is showing great resilience going forward.”

Suzlon Group Q4 FY23 and Annual financial performance (FY23) at a glance (consolidated):

Revenue

FY23 at INR 5,947 crores

Q4 FY23 at INR 1,690 crores

EBIDTA

Profit of INR 832 crores in FY23; EBITDA margin at 14.0%

Profit of INR 233 crores in Q4 FY23; EBITDA margin at 13.8%

PAT before exceptional items of INR 167crores in FY23; PAT of INR 68 crores in Q4 FY23

Cumulative Orders as on 30^th May 2023: 1,542 MW*

*This includes the order book as on March 31, 2023, of 652 MW plus orders secured subsequently of 890 MW.

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PUNE: Suzlon Group, India’s largest renewable energy solutions provider, today announced a new order win for the development of a 50.4 MW wind power project for Sembcorp’s renewables subsidiary Green Infra Wind Energy Limited. Suzlon will install 24 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each. The project is located in Karnataka and is expected to be commissioned in 2024.

Suzlon will supply the wind turbines (equipment supply) and execute the project including, erection and commissioning. Suzlon will also provide comprehensive operation and maintenance services post-commissioning. Sembcorp was awarded the 50.4 MW capacity following the tariff-based bidding process.

Speaking on the order win, JP Chalasani, CEO, of Suzlon Group, said, “As the country’s leading renewable energy solutions provider, Suzlon is proud that valued customers like Sembcorp, continue to choose our leading technology and capabilities across the value chain of wind energy. We are proud that our partnership with Sembcorp will assist Indian Railways to become a net-zero carbon emitter by the end of this decade thereby contributing to a sustainable India.”

“Suzlon, with its 28 years of experience in the wind energy market, is well positioned to contribute to India’s fight against “climate emergency” with a renewed focus on renewable energy. Our products which are best suited for varied wind regimes and immaculate service offerings make Suzlon the obvious choice for our stakeholders and customers.”

“Every Suzlon turbine ranging over 80%-90% on domestic content and manufactured in the country through a thriving domestic value chain is a testament to our contribution to the vision of Aatmanirbhar Bharat”.

Suzlon turbines feature the time-tested Doubly Fed Induction Generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon’s R&D efforts are continuously geared towards increasing turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.

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