Suzlon Energy Limited , India's leading wind solutions provider, has announced a significant milestone in its journey towards promoting clean energy. The company has secured a substantial 381 MW wind energy contract from Zelestra India, marking a pivotal moment in India's renewable energy landscape.

Project Details

The project, which represents Zelestra's inaugural Firm and Dispatchable Renewable Energy (FDRE) initiative, will be executed across three states:

Suzlon will supply 127 of its S144 wind turbine generators (WTGs), each with a rated capacity of 3 MW. This order has boosted the S144 orderbook to approximately 91% of Suzlon's total orders.

Strategic Significance

This collaboration underscores a growing trend in the industry, where companies embarking on their renewable energy journey are turning to established players like Suzlon as trusted partners. The project is part of SJVN's FDRE bid in Maharashtra and Madhya Pradesh, while the Tamil Nadu portion will cater to Commercial & Industrial (C&I) power consumers.

Girish Tanti, Vice Chairman of Suzlon Group, emphasized the pivotal nature of this project, stating, "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."

Zelestra's Vision

Zelestra India, backed by EQT, one of the world's largest funds with over €273 billion in assets under management, views this partnership as a significant step towards its ambitious goals. Sajay KV, CEO of Zelestra India, revealed that this project sets the foundation for delivering their portfolio of 5 GW from strategically sited and uniquely co-located hybrid projects.

Suzlon's Integrated Approach

JP Chalasani, Chief Executive Officer of Suzlon Group, highlighted the company's unique selling proposition: "What differentiates Suzlon is our ability to provide fully integrated solutions—from in-house technology and manufacturing to execution and lifecycle services. This allows us to deliver projects at scale while ensuring long-term value and energy security for our customers."

Looking Ahead

This contract not only strengthens Suzlon's position in the renewable energy sector but also contributes significantly to India's clean energy goals. As the country continues its shift towards sustainable power sources, partnerships like this between Suzlon and Zelestra are expected to play a crucial role in shaping the future of India's energy landscape.

The successful execution of this project will further cement Suzlon's reputation as a leader in wind energy solutions and support Zelestra's ambitious clean energy initiatives, marking a new chapter in India's renewable energy story.

Suzlon Energy , a prominent player in the wind energy sector, has witnessed significant changes in its ownership structure during the June quarter, according to recent market data.

New Institutional Interest

Motilal Oswal Midcap Fund has emerged as a new stakeholder in Suzlon Energy, acquiring a 1.03% stake during the June quarter. This move is particularly noteworthy as the fund held no position in the company at the end of the March quarter.

Mutual Fund Ownership on the Rise

The overall mutual fund ownership in Suzlon Energy has seen a substantial increase, rising to 5.24% from 4.17% in the previous quarter. This uptick suggests growing institutional interest in the wind energy company.

Promoter Stake Reduction

In a significant development, Suzlon Energy's promoters have reduced their stake in the company. Their ownership has decreased to 11.74% from 13.25%, executed through a block deal during the quarter. This reduction in promoter holding could potentially impact the company's ownership dynamics.

Stable Institutional Holding

Life Insurance Corporation of India (LIC), a major institutional investor, has maintained its stake in Suzlon Energy at slightly above 1%. This steady holding from LIC indicates a level of confidence in the company's prospects.

Retail Investor Landscape

The retail investor base of Suzlon Energy has seen a slight contraction. The number of retail shareholders decreased to 55.40 lakh from 56.12 lakh in the previous quarter. However, despite this reduction in numbers, the percentage holding of retail investors remained relatively stable at around 25%.

Market Performance

Suzlon Energy's stock closed 1.80% lower at ₹65.09 in the most recent trading session. It's worth noting that the stock's performance has been flat for the year, suggesting a period of consolidation in its market value.

These ownership changes reflect a dynamic period for Suzlon Energy, with institutional investors showing increased interest while promoters reduce their holdings. The stability in retail ownership suggests continued faith from individual investors despite the fluctuations at the institutional level.