India’s leading renewable energy solutions provider, Suzlon Energy Limited, has once again demonstrated its strong position by securing a significant 378 MW wind energy project order from NTPC Green Energy Limited (NGEL). This order symbolizes the growing collaboration between Suzlon and NTPC Green Energy, with the two companies having now initiated work on combined projects totaling 1,544 MW. This achievement not only reflects Suzlon’s technical expertise but also underscores its leadership role in India’s renewable energy sector.
Suzlon Energy announced this order in a notification to the stock exchanges on Wednesday, April 23, 2025. Under this project, Suzlon will supply 120 S144 wind turbine generators (WTGs), each with a rated capacity of 3.15 MW. These turbines will be installed with hybrid lattice towers (HLT), enhancing their efficiency and durability. Additionally, Suzlon will handle the project’s foundation, erection, commissioning, and ongoing maintenance. This order marks the second major project Suzlon has received from NTPC Green Energy in the past eight months, reflecting the trust and long-term partnership between the two companies.
Suzlon Group Vice Chairman Girish Tanti expressed his delight at this achievement, stating, “We are proud to be a strategic partner in NTPC’s clean energy mission. NTPC Green Energy aims to expand its renewable energy capacity to 60 GW by 2032, and this partnership showcases the crucial role of wind energy in the renewable journey of India’s largest public sector company. We are committed to providing high-quality, affordable, and sustainable energy.”
With this order, Suzlon’s order book has now reached a record 5.7 GW, marking a significant milestone for the company. Rajesh Sinha, Senior Research Analyst at Bonanza Group, commented, “Suzlon Energy has recorded unprecedented growth in its order book. India aims to double its wind energy capacity by 2030, and Suzlon’s role in this direction will be pivotal. The company’s contribution margin is expected to stabilize around 20 percent, depending on steel prices and project execution dynamics.”
This order aligns with the Indian government’s clean energy initiatives, which aim to achieve 500 GW of non-fossil fuel capacity by 2030. Suzlon’s CEO, JP Chalasani, stated, “The adoption of wind energy by large corporations is essential to achieving India’s ambitious target. Independent power producers (IPPs) are now recognizing the potential of wind energy, which can provide affordable, high-quality, and accessible energy.”
Following the announcement of this order, the market showed enthusiasm for Suzlon’s shares. However, on April 23, the share price closed 0.40 percent lower at ₹59.05, though the stock recorded a 15 percent surge over the past two weeks. Analysts believe that if the share crosses the ₹64 level, further gains could be seen. Over the past year, Suzlon’s stock has risen by 41 percent, and in five years, it has delivered a multibagger return of 2121 percent.
This achievement by Suzlon adds a new chapter to India’s renewable energy sector. The company has previously secured significant orders from major clients like Jindal Renewables, Sansur Energy, and Oyster Renewable. Additionally, the company is collaborating with the Karnataka government on a 3,000 MW wind energy project and establishing a state-of-the-art wind turbine blade manufacturing facility in Vijayapura.
