In a significant development for India’s renewable energy sector, Suzlon Energy has further solidified its standing as a key player in the wind energy space with a landmark achievement — the awarding of 1,544 MW of wind projects by NTPC Green Energy (NGEL), including a new 378 MW order. The announcement, made via a regulatory filing and a subsequent press release, marks a strategic consolidation of Suzlon’s largest-ever partnership with a public sector undertaking (PSU), underscoring the company’s central role in India’s clean energy transition.
Suzlon-NTPC Order Breakdown
The latest 378 MW wind energy project will be executed in the Gadag region of Karnataka and will involve the supply of one hundred twenty S144 Wind Turbine Generators (WTGs). Each WTG, mounted on advanced Hybrid Lattice Towers (HLT), carries a rated capacity of 3.15 MW. Suzlon Energy will handle end-to-end execution — from foundation, erection, and commissioning to long-term maintenance and service support.
This order comes as the second major win from NGEL in under 8 months, reinforcing not only the mutual trust between the two entities but also Suzlon’s ability to scale and deliver within aggressive timelines.
Executive Commentary: Commitment to Clean Energy Leadership
Girish Tanti, Vice Chairman of the Suzlon Group, emphasized the strategic alignment of this partnership with India’s climate goals:
“We are honored to be a strategic partner in NTPC’s ambitious vision to accelerate India’s clean energy transition. From Gujarat to Karnataka, our collaboration exemplifies the strength of public-private synergy in the renewable energy sector.”
JP Chalasani, CEO of Suzlon Group, highlighted the project’s role in their broader PSU-focused growth strategy:
“Securing high-quality projects in the PSU space affirms our market leadership. This order reflects our commitment to reliable, cost-effective renewable energy solutions.”
Brokerage Confidence: Motilal Oswal Sees 21% Upside
Adding to the excitement, Motilal Oswal Financial Services has initiated coverage on Suzlon Energy with a ‘Buy’ rating and a target price of INR 70 per share, implying a 21% upside from current levels. The brokerage cites Suzlon’s domestic roots, execution capabilities, strong balance sheet and growing order book as key positives. With revenue, EBITDA and PAT expected to grow at 51%, 52% and 63% respectively over FY27, Suzlon is a high growth, undervalued clean energy stock as India targets 100 GW of wind capacity by 2030.
Investor Sentiment: Cautious Optimism Despite Volatility
Despite NTPC Green and Suzlon deal, share price of Suzlon Energy reacted with mild hesitation, down 0.40% at INR 59.05 per share in the latest session. While the market was up, Suzlon’s stock saw minor profit taking after a 15% rally over the past two weeks. Year to date, the stock is down 9.63%, but overall it’s a standout performer with 2,121% returns over the past few years and 41% returns over the past year.
Suzlon Energy: Powering With Wind
Founded nearly three decades ago, The Suzlon Group is India’s leading wind energy solutions provider with over 20.9 GW of installed capacity across 17 countries. Its in-house R&D capabilities, global manufacturing footprint and a 7,800 strong workforce continue to keep it at the forefront of wind technology.
NTPC Green Energy’s target of 60 GW of renewable energy capacity by 2032 aligns with India’s national target of massive renewable growth. Suzlon’s projects, especially this 1,544 MW milestone, is a key building block to achieving these targets.
Conclusion
The 378 MW wind project win is more than just a new order — it is a symbol of Suzlon’s strategic resurgence and India’s broader renewable ambitions. With firm PSU partnerships, strong analyst backing, and a robust project pipeline, Suzlon Energy appears well-positioned to lead India’s charge into a cleaner, greener future. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.