In an exchange filing released today, the company said the project marks its fourth PSU order of FY26, reflecting its growing strength in the ecosystem due to its end-to-end capabilities. The power generated from the project will support the decarbonisation of GAIL’s upcoming petrochemical plant in Nandurbar, Maharashtra.
“With over 2.2 GW of installed capacity and a ~38% market share in Maharashtra, Suzlon has played a key role in the state’s growth as one of India’s leading renewable energy hubs,” the company said.
As part of the order, Suzlon Energy will install 47 state-of-the-art S120 wind turbine generators (WTGs), each rated at 2.1 MW capacity for this project. The company will supply wind turbines, oversee equipment installation, and execute the project, including erection and commissioning, while providing comprehensive operations and maintenance services post-commissioning.
“We are happy to continue our strong relationship with GAIL, a valued partner for over 15 years, signing our sixth order together. We have worked over the years in Gujarat, Tamil Nadu and Karnataka and are now extending this partnership with a maiden order in Maharashtra. Two years ago, we re-entered the PSU segment, starting with a 1.1 GW order from NTPC Limited. Today, PSU and C&I constitute over 64% of our order book, and we are working with all the leading PSUs and C&Is in the country,” said Suzlon Group CEO Ajay Kapur.
Suzlon Energy shares rose more than 3% to Rs 41.3 apiece in the early trading hours of Tuesday. The stock later pared some gains and was trading at Rs 40.17 apiece, as seen at 11.15 am.
The stock has fallen more than 3% in the past five days and over 9% in the past one month. The shares of the company have tumbled over 30% in the past six months, after rallying around 695% in the past five years.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)