- Suzlon aims to become a full-stack renewable energy solutions provider by 2029
- Wind energy will remain core, with added solar, BESS, and energy management services
- Execution delays in permits, land, and right-of-way remain major challenges for projects
Suzlon Energy is keen on transforming itself from a pure-play wind turbine maker into a full-stack renewable energy solutions player, as part of its five-year roadmap called Suzlon 2.0, according to Group CEO Ajay Kapoor.
Speaking to NDTV Profit, Kapoor said the company's “Suzlon 2.0” strategy will continue to keep wind energy at the core while adding solar, battery energy storage systems (BESS) and energy management services to its offerings.
“Our customers are looking at not just wind, but the entire RE stack,” Kapoor said.
Suzlon's expansion will rely heavily on the DevCo, although Kapoor said execution delays remain one of the biggest bottlenecks in the renewable energy sector, especially in wind projects. “The big issue is getting the permits, getting the land, and getting the right-of-way,” he said.
According to Kapoor, Suzlon has already identified 8-10 gigawatts of advanced wind project sites and is building long-term partnerships around them. “As I speak to you, we have almost 8 to 10 gigawatt of advanced baked projects in the wind states,” he said.
The company expects 60% of revenues from its targeted 10 GW renewable energy portfolio to eventually come through the DevCo model by FY31.
Kapoor said Suzlon's new approach is aimed at reducing project execution delays by taking control of approvals and land acquisition much earlier in the process. “We believe our customers should save 12 months on execution,” he said.
Suzlon has also reorganised its execution teams, including a dedicated 200-plus member DevCo team tasked with acquiring permits and ensuring project readiness ahead of time.
Despite the scale of the expansion, Kapoor said the strategy remains largely asset-light and funded through internal cash generation. “It's an asset-light model, largely funded by our own cash flows,” he added.
Suzlon currently has a wind order book of around 5.7 GW. Going forward, the company is targeting a 15 GW FDRE pipeline that will include wind, solar and battery storage projects, alongside a separate 3 GW export order intake target by FY31.
ALSO READ: SEBI Slaps Rs 15.95 Crore Penalty On Suzlon Over Alleged Misstatement Of Financials
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.