Introduction:
Leading green energy company has expanded its partnership with Jindal Renewables to launch a 302.4 MW wind power project in Karnataka’s Koppal region. This initiative supports India’s green steel production and enhances the sustainability of steel plants.
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Share price movement of Suzlon:
On December 4, 2024, Suzlon Energy Ltd. opened at ₹65.98, up 0.87% from its previous close of ₹65.41. The stock reached a high of ₹68.43 (4.62%) and a low of ₹65.35. By 12:57 PM, it traded at ₹67.90, a 3.81% increase, with a market cap of ₹92,685.21 crore.
Suzlon and Jindal expand wind project:
Suzlon and Jindal Renewables have expanded their partnership with an additional 302.4 MW wind power project in Karnataka’s Koppal region. This move aims to accelerate India’s green steel production and enhance the operational sustainability of steel plants.
This second order increases the total wind capacity from Jindal Renewables to 702.4 MW, marking Suzlon’s largest-ever commercial and industrial (C&I) order from a single customer. Last month, they secured a 400 MW order in the same region, strengthening their collaboration.
Under the strategic agreement, Suzlon will supply 96 advanced S144 wind turbine generators with Hybrid Lattice Towers. The energy produced will be used for captive consumption in steel plants in Chhattisgarh and Odisha, boosting sustainability.
Recent news on Suzlon:
As of November 11, 2024, Suzlon Energy Ltd.’s shares dropped over 6% following the resignation of Ishwar Chand Mangal, CEO of new business, after 28 years of leadership, to explore new opportunities.
Stock performance of Suzlon for Period of 1 week, 6 months and 1 year:
Suzlon Energy has shown impressive growth, delivering a 2.85% return over one week, 31.1% over six months, and an outstanding 64.9% over the past year, reflecting strong investor confidence and robust performance in the renewable energy sector.
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Shareholding pattern of Suzlon:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 13.30% | 13.30% | 13.30% |
| FII | 23.70% | 21.50% | 19.60% |
| DII | 9.00% | 9.20% | 6.30% |
| Public | 54% | 56% | 61% |
About Suzlon:
Suzlon Energy (NSEl: SUZLON) is a global leader in renewable energy, specializing in wind turbine manufacturing, installation, and O&M services, offering end-to-end wind project solutions and advanced component manufacturing for sustainable power generation.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
