Suzlon Energy's stock saw a 2% rise on September 9 following the company's announcement of securing India’s largest wind energy order. The deal involves a project for NTPC Green Energy Limited, the renewable energy arm of NTPC, with Suzlon set to install wind turbine generators (WTGs) totaling 1,166 MW.

This massive order will include 370 WTGs equipped with S144 Hybrid Lattice Tubular (HLT) towers, each with a capacity of 3.15 MW. These turbines will be distributed across two NTPC Renewable Energy Limited projects and one project from Indian Oil NTPC Green Energy Pvt. Ltd.

With this win, Suzlon’s cumulative order book has grown to nearly 5 GW as of early September 2024.

This recent development adds to Suzlon's momentum, following its completion of acquiring a 51 percent stake in Renom Energy, turning it into a subsidiary.

The acquisition, part of a larger Rs 660 crore two-phase deal, marks another strategic move by the company.

Suzlon’s board had approved the acquisition of 76 percent of Renom Energy Services in August, and the company has already taken steps to acquire 51 percent for Rs 400 crore, with plans to acquire an additional 25 percent over the next 18 months.

Suzlon's share price has seen a sharp rise over the last 12 months, surging by 212 percent, significantly outperforming Nifty’s 28 percent growth during the same period.

This increase reflects growing investor confidence in the company’s ability to execute large projects and expand its operations.

In addition, Suzlon’s strategy of selling non-core assets, including its corporate headquarters, Suzlon One Earth, aligns with its asset-light approach. This move is seen as beneficial in managing the company’s increasing working capital needs, especially in light of the rising order book and project demands.

The sale will also help the company strengthen its financial position while it continues to pay rent equivalent to 12 percent of the sale consideration.

This approach, according to analysts, will enhance Suzlon’s operational efficiency as it continues to expand in the renewable energy sector.

Despite a slight dip in the previous trading session, where Suzlon shares ended at Rs 74.95 on the National Stock Exchange, the stock has gained 94 percent this year, significantly outperforming the Nifty index’s 16 percent rise.

With strong project wins and a robust acquisition strategy, Suzlon Energy continues to be a key player in India’s renewable energy landscape.