Suzlon Wins 82 MW Wind Energy Project from Oyster Green

The Suzlon Group announced on Friday that it has acquired an 82 megawatt (MW) wind energy project from Oyster Green Hybrid One Pvt Ltd. This project involves the installation of 26 wind turbine generators (WTGs), each with a rated capacity of 3.15 MW, at Oyster Green's site in Agar, Madhya Pradesh, according to the company's statement.

Suzlon will install 26 wind turbine generators (WTGs), each with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW, at the client’s site in Agar, Madhya Pradesh. The turbines for this project will be from Suzlon's 3 MW product series, specifically the larger rated 3.15 MW, S144-140m models. Under the agreement, Suzlon will provide the wind turbines and manage the entire project, including erection and commissioning. Additionally, the company will be responsible for comprehensive operations and maintenance services once the project is commissioned.

Vivek Srivastava, Chief Executive Officer, India Business, Suzlon Group, said, "We are happy to announce our first order with Oyster Green Hybrid One Private Limited, an Indian Independent Power Producer (IPP) of great repute. We welcome Oyster to the Suzlon experience and thank them for trusting in our leading technology and comprehensive capabilities throughout the wind energy value chain. We appreciate the faith that our customers place in the quality and reliability of our technology and service solutions."

"The electricity generated from this project will target the C&I customer segment, creating a deeper penetration of renewable energy in India. We are committed to powering the industry with sustainable green energy to power their progress while meeting their net-zero ambitions," Srivastava added.

Srivastava also highlighted the local manufacturing aspect of the turbines. “Every Suzlon turbine is manufactured in India through a thriving domestic ecosystem, which is a testament to 'Make in India' and 'Aatmanirbhar Bharat', contributing to a greener world. This is also in line with our mission to consistently lower the cost of energy to make green power accessible and affordable for all.”

Ateesh Samant, Chief Operating Officer, Oyster Green Hybrid One Private Limited, said, “At Oyster Green Hybrid One Private Limited, we are focused on increasing our green power portfolio through Wind and Wind-Solar Hybrid projects. We always strive for alliances that help us in our journey of increasing the reach of renewable energy in India with a focus on sustainability. We are positive that being the nation’s largest renewable energy solutions provider, Suzlon’s technological expertise and manufacturing capabilities will allow us to grow our green energy portfolio and serve our customers with a shared ideology.”

The project employs Suzlon's Doubly Fed Induction Generator (DFIG) technology to effectively connect wind turbines to the power grid, ensuring compliance with grid standards. Suzlon's research and development initiatives consistently focus on enhancing turbine efficiency, capturing more energy from low-wind areas, and lowering the cost of energy production.

Suzlon Energy share price remained stable despite the Suzlon Group's announcement.

Today, the stock was trading flat at ₹45.30, with the firm's market cap dropping to ₹61,625 crore on the BSE. A total of 10.36 lakh shares were traded, resulting in a turnover of ₹4.65 crore on the BSE. Suzlon Energy shares have a beta of 0.9, indicating low volatility over the past year. Technically, the stock's relative strength index (RSI) is at 58, suggesting it is neither overbought nor oversold.

Based in Pune, Suzlon Group is a leading global provider of renewable energy solutions, with 20.7 GW of wind energy capacity installed across 17 countries. Suzlon Energy specializes in renewable energy solutions and is a manufacturer of wind turbines. The company also offers a variety of solar energy solutions, including solar irradiance assessment, land acquisition and approvals, infrastructure and power evacuation, supply chain management, installation and commissioning, and life cycle asset management.