Suzlon Energy shares remained under pressure on Tuesday despite a fresh order win from Torrent Green Energy and the company's plans to invest Rs 10,000 crore in wind projects in Andhra Pradesh.
The stock fell as much as 1.06% intraday to Rs 46.55, before paring some losses. At the latest check, Suzlon was trading around Rs 46.73, down 0.68% from the previous close of Rs 47.05.
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Suzlon has expanded its partnership with Torrent Green Energy, securing its sixth order from the group. With the latest order, Suzlon's total capacity with Torrent Green has reached 1.3 GW.
The partnership comes as Suzlon continues to build its order pipeline amid rising renewable energy capacity additions.
Rs 10,000 Crore Andhra Pradesh Investment
Separately, Suzlon Group plans to invest Rs 10,000 crore in Andhra Pradesh, including the development of 1,325 MW of new wind projects in Rayadurg constituency of Anantapur district.
The projects are expected to create around 4,000 direct and indirect employment opportunities. Suzlon is also targeting 5 GW of additional renewable energy capacity in Andhra Pradesh by 2030.
The company already has more than 1,700 MW of installed wind energy capacity in the state.
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