Suzlon Energy wins repeat order from GSFC; stock up 3%

MUMBAI: Shares of Suzlon Energy picked up steam on Tuesday after the company announced that it has won a repeat order from Gujarat State Fertilizers & Chemicals Ltd. to set up, operate and maintain an 18 MW wind energy project at Adodar site in the Porbandar district of Gujarat. The project will comprise of 12 units of Suzlon's S82 - 1.5 MW wind turbines.

The project will generate power for GSFC’s captive consumption. GSFC will enter into an Energy Wheeling Agreement (EWA) with Gujarat Energy Transmission Corporation Ltd. and the power generated will be wheeled for utilization at their facilities in Fertilizernagar, near Vadodara. GSFC also plans to register this new project under the Clean Development Mechanism.

Speaking on the project Mr. Ashok D’Sa, President – South Asia and Middle East, Suzlon Energy Limited, said, “It gives us great pride to partner with leading state PSUs like GSFC, who are committed to the vision of powering development through sustainable energy and the mitigation of climate change. This is GSFC’s third project with Suzlon, and underlines the trust placed by our customers in us, making us the market leader in India for the past 11 years. It also highlights Gujarat’s place as one of the most important growth markets for wind power in India.”

Shares of the company were trading at Rs 75.35, higher by 2.8 per cent or Rs 2.05 on the NSE.