Suzlon Shares hits upper circuit over 4% on securing deals with Jindal Renewables

During intraday trading on Tuesday, March 4, 2025, shares of Suzlon Energy, a provider of renewable energy solutions, increased 4.12% to reach the day's high of Rs 51.49 on the National Stock Exchange (NSE).

The surge in Suzlon’s share price followed the news that the company had secured a third order of 204.75 MW from Jindal Green Wind 1 Pvt. Ltd., a subsidiary of Jindal Renewables.

"This partnership is also now Suzlon’s largest Commercial & Industrial (C&I) order with a cumulative capacity of 907.20 MW. Earlier, Suzlon secured two orders to power Jindal Steel’s plants in Chhattisgarh and Odisha, adding 702.45 MW of wind energy. Currently, C&I customers account for 59 percent of Suzlon’s total order book, which has now reached a record 5.9 GW—the highest in the company’s history," said Suzlon Energy in a release.

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In this new order, Suzlon will supply 65 state-of-the-art S144 wind turbine generators (WTGs) with Hybrid Lattice Towers (HLT), each rated at a 3.15 MW capacity.

The energy generated will be utilized for captive consumption in steel plants located in Chhattisgarh and Odisha, enhancing their operational sustainability and contributing to India's green energy transition.

"Building on our initial successes in Karnataka, we're now expanding the Low CO? Steel movement to Tamil Nadu, a trailblazer in wind energy. Together, we're redefining the future of sustainable industrial growth in India," said Girish Tanti, vice chairman, Suzlon Group.

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Bharat Saxena, president of Jindal Renewables, said, “At Jindal Renewables, we are committed to leading the decarbonization movement in India’s steel industry. This third order with Suzlon is a clear demonstration of our commitment to sustainable practices and our vision to become the largest decarbonization solution provider.”

The share price of Suzlon Energy was quoted at Rs 49.79, up just 0.02 percent from the previous close on the NSE of Rs 49.78. Nearly 58 million shares of Suzlon Energy, worth around Rs 291.80 crore, have exchanged hands on the NSE and BSE so far.

The share price has dropped nearly 32 percent in the past six months; in the last year, it has advanced nearly 16 percent.

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