Why Multibagger stock Suzlon is trending today?
Suzlon Energy secured a significant 381 MW wind energy contract, its first Firm and Dispatchable Renewable Energy (FDRE) project. This project, which is set to utilize 127 S144 wind turbines across Maharashtra, Madhya Pradesh, and Tamil Nadu, is driving renewed interest in Suzlon stock. The contract highlights Suzlon's leading role in India's renewable energy transition
New Delhi: Suzlon on Friday, August 1, informed that it has bagged a contract to build a 381 MW wind energy project from Zelestra and its affiliate companies. The project is set to be its first-ever Firm and Dispatchable Renewable Energy Project (FDRE). A Firm and Dispatchable Renewable Energy (FDRE) project integrates renewable energy sources like solar and wind with energy storage systems (ESSs) to provide a consistent, on-demand power supply.
The 381 MW project involves 127 of Suzlon's S144 wind turbines. The project is set to spread across Maharashtra (180 MW), Madhya Pradesh (180 MW), and Tamil Nadu (21 MW), said the company in its statement.
"India's energy transition landscape is at a pivotal juncture, where the pursuit of reliable, round-the-clock renewable power (FDRE) is taking center stage. This project marks that critical shift," says Girish Tanti, vice chairman of the Suzlon Group.
Suzlon Share Price
The company's shares were trading at Rs 65.61 per equity share on the Bombay Stock Exchange at the time of writing this article. The shares have given a negative return of about 2 percent in the last one month whereas the yearly returns have been negative too, giving negative returns of about 6 percent. However, the 5-year returns of the shares have been whopping, giving 1600 percent, making it a multibagger stock. The price-to-earnings (P/E) ratio of the company is 40.52. The market capitalisation (M-Cap) of the company stands at Rs 83711 crore.
Suzlon Group is a leading global renewable energy solutions provider, with approximately 21.1 GW of wind energy capacity installed across 17 countries in Asia, Australia, Europe, Africa, and the Americas. The group is involved in the development of some of Asia's largest operational onshore wind farms in nine states, including Gujarat, Rajasthan, Maharashtra and Tamil Nadu
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