Suzlon Energy, Torrent Power Win 486 MW-Order In Gujarat
Suzlon Energy Ltd. and Torrent Power Ltd. on Friday said they secured a 486 megawatt wind power contract in Gujarat. The deal value was not disclosed.
Under the agreement, Suzlon will supply 162 state‐of‐the‐art S144 wind turbine generators with hybrid lattice towers, each rated at 3 MW capacity in the Bhogat region in Gujarat, according to an exchange filing.
Following the order win, Suzlon Group and Torrent Power have achieved the milestone of one gigawatt of wind energy portfolio across Gujarat and Karnataka.
"The success of our S144 wind turbine, known for its ability to deliver optimal power performance even in low‐wind conditions, has been a key driver of this collaboration," said JP Chalasani, chief executive officer of Suzlon Group.
The S144 wind turbine generator is one of the largest in India, extendable up to 3.15 MW, depending on site wind conditions. At 160 meters hub height, the S144 is also the country's tallest wind turbine, according to the company website. The 3 MW turbines feature a 144-meter rotor diameter and are designed to unlock low wind sites and deliver improved energy yield suitable for all Indian wind regimes.
This is the fifth order that Suzlon has received from Torrent Power.
Suzlon Energy, Torrent Power Share Price
Suzlon Energy share price was trading 2.7% lower at Rs 52.8 apiece at 11:35 a.m., while Torrent Power stock was up 3.5% at Rs 1,474, after the announcement. The benchmark Nifty 50 was up 0.45%.
Out of six analysts that cover Suzlon Energy, four have a 'buy' rating and the other two have a 'hold'. Consensus projects a potential upside of 44% on the stock.
For Torrent Power, five analysts have a 'buy' rating, four have 'sell' and two have 'hold' recommendation. The 12-month consensus price target of Rs 1,717.75 implies a potential upside of 17% on the stock.
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