This multibagger penny stock receives its first major order for the company’s largest turbine!

Today, the company announced about the progress of a 69.3 MW wind power project for Juniper Green Energy Private Limited

Suzlon Energy is primarily focused on manufacturing and OMS (Operations and Maintenance Services) of wind turbine generators and related components of various components. Having more than two decades of experience, it has scripted OMS best practices, thus setting industry benchmarks that ensure operational efficiency across various climatic zones. 

The company announced today, the progress of a 69.3 MW wind power project for Juniper Green Energy Private Limited. Suzlon will be installing 22 wind turbine generators (WTGs) as part of the project. These WTGs will feature a new product with a rated capacity of 3.15 MW each and a Hybrid Lattice Tubular (HLT) tower. This installation represents the second of the 3 MW product series, as Suzlon works towards the completion of the project. 

Suzlon has received its first significant order for the S144-140m, the largest turbine in its 3 MW series with a rating of 3.15 MW. Under the agreement, the company will be responsible for the supply of the wind turbines and the execution of the project, which includes erection and commissioning. Suzlon will also provide comprehensive operations and maintenance services after the commissioning of the project. This order is a significant milestone for the company, as it showcases the reliability and effectiveness of its largest turbine in the 3 MW series. 

On Tuesday, shares of Suzlon Energy closed 3 per cent down at Rs 8.08 apiece on BSE. The company has a market cap of over Rs 9,500 crore with 3 years CAGR of 55 per cent. The company reported positive numbers in its Quarterly Results (Q3) where net profit skyrocketed 105.26 per cent compared to the same quarter last year.    

The stock has witnessed significant buying activity as it has given multibagger returns of more than 240 per cent in the last 3 years. 

Keep a close eye on this trending stock.