Suzlon Energy (NSE:SUZL) Limited has strengthened its strategic collaboration with NTPC (NSE:NTPC) Green Energy Ltd. (NGEL) by bagging a new 378 MW wind energy project, taking the total capacity awarded by NGEL to Suzlon to an impressive 1,544 MW in under eight months. This fresh order not only highlights Suzlon’s leading market position in India’s wind energy segment but also underscores its role in driving the country’s clean energy transition.
As part of the project, Suzlon will supply 120 units of its S144 Wind Turbine Generators (WTGs), each with a rated capacity of 3.15 MW, to be installed in the Gadag region of Karnataka. The contract includes the supply, foundation, erection, commissioning, and post-installation maintenance services of the wind turbines. These turbines are equipped with Hybrid Lattice Towers (HLTs) designed for efficient performance and cost optimization.
Girish Tanti, Vice Chairman of Suzlon Group, emphasized the significance of the collaboration:
> “We are honored to be a strategic partner in NTPC’s ambitious vision to accelerate India’s clean energy transition. As NGEL targets a 60 GW renewable energy portfolio by 2032, this partnership lays the groundwork for showcasing wind power’s key role in India’s largest PSU-led renewable journey.”
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However, investors must balance this positive business momentum with the company’s current market valuation. According to InvestingPro’s fair value estimate, Suzlon Energy’s intrinsic value is pegged at INR 41.9 per share, which reflects a 29.8% downside potential from the current market price of INR 59.7. This indicates that despite the strong project pipeline, the stock may be overvalued at present.
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