LIC-backed Multibagger stock under Rs 50: This wind energy stock bags 30 MW order; stock gains over 700 per cent!

The project is estimated to curb over 97,000 tonnes of CO2 emissions annually, highlighting the project's positive environmental impact.

Suzlon, a leading Indian renewable energy provider, has secured a new 30 MW wind power project from EDF Renewables. This project reinforces Suzlon's position in the clean energy sector and contributes significantly to India's renewable energy goals.

Located in Gujarat, the project will utilize 10 wind turbine generators (WTGs) from Suzlon's most powerful 3 MW series, each equipped with a Hybrid Lattice Tubular (HLT) tower. This win marks a repeat order for the S144-140m series, showcasing customer confidence in Suzlon's technology.

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Suzlon will manage the entire project lifecycle, encompassing supply, supervision, erection, commissioning, and post-commissioning operations and maintenance services. This comprehensive approach ensures project efficiency and optimal performance.

Beyond its immediate impact, the project is estimated to generate enough clean electricity to power over 24,000 households and contribute to a significant reduction in CO2 emissions, exceeding 97,000 tonnes annually. This aligns with both companies' commitment to promoting sustainable solutions and combatting climate change.

This project win comes amidst positive financial performance for Suzlon. In Q3FY24, the company witnessed a 7.17% increase in consolidated revenue compared to the previous year, coupled with growing operating and net profits. This financial strength positions Suzlon for continued growth and leadership in the renewable energy sector.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with 20.3 GW of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India, the Group comprises Suzlon Energy Limited and its subsidiaries. The stock has also delivered multibagger returns of over 700 per cent in the last three years. LIC owns a 1.12 per cent stake in the company.

The stock has shown impressive growth, and investors should keep a close eye on this stock. 

Disclaimer: The article is for informational purposes only and not investment advice.