Suzlon Energy Ltd. expects engineering, procurement and construction order closures to accelerate from June as renewable projects increasingly move towards turnkey execution models.
The company said utility customers were shifting away from split-contract structures that had delayed project execution and capacity addition in the past. Suzlon expects the change to support faster order finalisation and improve execution visibility for wind projects, management said during its earnings call on Tuesday.
The comments come as NTPC Green Energy Ltd. targets renewable capacity additions of more than 8 GW annually over the next two financial years while continuing to secure transmission connectivity and storage infrastructure for upcoming projects.
"You will significantly start hearing from June itself this quarter the EPC orders getting closed," Suzlon's Group Executive Council member J.P. Chalasani said during the call.
Chalasani said earlier split-contract structures had slowed execution timelines. "We understand they're now moving towards a turnkey EPC contracts," he said. "That split contracts was making the capacity addition delay."
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Order Pipeline
Suzlon said EPC orders accounted for 28% of its order book at the end of FY26, compared with about 20% earlier. The company reiterated its target of increasing the EPC share to 50% by FY28.
The company closed FY26 with a 5.9 GW order book, of which 66% came from the commercial and industrial and public-sector segments, according to management.
Suzlon delivered 830 MW during the March quarter and 2,456 MW during FY26, its highest annual deliveries in India, management said.
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Renewable Push
NTPC Green said it plans to add 8.2 GW of renewable capacity in FY27 and 8.1 GW in FY28 as it expands renewable generation and storage projects.
The company said 57% of its planned renewable capacity for FY27 already has firm transmission connectivity, while another 38% depends on temporary grid connectivity arrangements.
For FY28, the company said 88% of planned renewable projects already have firm connectivity in place.
NTPC Green also disclosed that renewable generation curtailment during FY26 reduced earnings before interest, tax, depreciation and amortisation by around Rs 90 crore.
The company is also expanding battery storage projects alongside renewable additions. Management said 1,320 MW of battery storage projects are under execution or tendering, while another 4 GW remains under planning.
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Financials
Suzlon reported consolidated revenue of Rs 16,679 crore for FY26, up 54% from a year earlier. Profit before tax rose 67% to Rs 2,422 crore, while consolidated net profit stood at Rs 3,163 crore.
The company ended FY26 with a consolidated net cash position of Rs 2,384 crore, management said during the earnings call.
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