LIC Backed Multibagger Energy Company Expands its Largest C&I Order with Jindal Renewables by 204.75 MW - Details inside!
With a market capitalisation of Rs 67,393 crore and a PE ratio of 57.6x, the company trades at a premium compared to the industry PE of 44.8x.
Suzlon Energy Limited has announced an expansion of its largest Commercial & Industrial (C&I) order with Jindal Renewables by 204.75 MW. The total cumulative order capacity now stands at 907.20 MW. This latest order is awarded by Jindal Green Wind 1 Pvt. Ltd., a subsidiary of Jindal Renewables, further accelerating India's Low CO₂ Steel revolution.
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Key Highlights of the Order:
- Suzlon secures a third order of 204.75 MW from Jindal Green Wind 1 Pvt. Ltd.
- Largest cumulative C&I order now at 907.20 MW.
- Suzlon will supply 65 S144 wind turbine generators (WTGs) with Hybrid Lattice Towers (HLT), each rated at 3.15 MW capacity.
- The project will be executed in the Karur region of Tamil Nadu.
- All orders will supply electricity to steel plants in Chhattisgarh and Odisha.
- C&I customers now account for 59% of Suzlon’s total order book, which has reached a record 5.9 GW—the highest in the company’s history.
Statements from Key Executives:
Girish Tanti, Vice Chairman, Suzlon Group: "We are proud to propel India's steel decarbonization forward through our strengthened partnership with Jindal Renewables. After our success in Karnataka, we are now expanding the Low CO₂ Steel movement to Tamil Nadu, a leader in wind energy. Together, we are redefining sustainable industrial growth in India."
Bharat Saxena, President, Jindal Renewables: "At Jindal Renewables, we are committed to leading the decarbonization movement in India’s steel industry. This third order with Suzlon reinforces our commitment to sustainable practices and our vision to become the largest de-carbonisation solution provider."
JP Chalasani, CEO, Suzlon Group: "With decades of expertise in renewable energy, Suzlon is uniquely positioned to drive the decarbonisation of hard-to-abate sectors like steel and heavy industries. As industrial growth accelerates, the need for sustainable energy solutions is greater than ever. Suzlon is committed to delivering innovative wind energy solutions that reduce carbon footprints while ensuring long-term energy security."
About Jindal Renewables Private Limited (JRPL)
Jindal Renewables (JRPL) is developing close to 3 GW of diverse renewable assets, with power off-take completely secured. By 2030, it aims to develop around 12 GW of renewable energy assets, including storage facilities and green hydrogen production, positioning itself as one of India's largest decarbonisation solution providers.
About Suzlon Group
Suzlon Group is a leading global renewable energy solutions provider, with approximately 20.9 GW of wind energy capacity installed across 17 countries. Headquartered in Pune, India, the company operates R&D centers in Germany, the Netherlands, Denmark, and India, along with world-class manufacturing facilities.
With a market capitalisation of Rs 67,393 crore and a PE ratio of 57.6x, the company trades at a premium compared to the industry PE of 44.8x. The company has ROCE of 24.9 per cent and ROE of 28.8 per cent. The stock price of the company has given multibagger returns in year 2024.
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Disclaimer: The article is for informational purposes only and not investment advice.