Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
26 April, 2018 20:46 IST
Suzlon Group commissions 626 MW in FY18
Source: IRIS | 16 Apr, 2018, 10.18AM
Comments  |  Post Comment

Suzlon Group, India's largest renewable energy solutions provider today announced that it has commissioned 626 MW of wind power projects in the financial year 2017‐18 (FY18), the highest installations by any player during this fiscal.

With this, Suzlon has gained a market share of 35 % despite an extremely challenging year for the sector and several hurdles due to the transition from FIT to bidding regime. As a result, the overall wind industry installations plummeted to 1,766 MW in FY18 (32% of FY17 installations) due to stagnant volumes, uncertainty on PPAs and policy environment. 

Suzlon's achievement this fiscal year comes in the backdrop of a paradigm shift in the way wind business is conducted in India, with the advent of competitive bidding. Suzlon's agility to adapt quickly and efficiently to the changed market dynamics combined with technologically advanced products, project execution capabilities, vertically integrated operations and pan‐India presence helped it emerge victorious with highest installations in FY18. Apart from this, Suzlon leveraged its over two decades of experience in the domestic market and undertook several measures to overcome the hurdles. Cost optimization across the value chain, introduction of products delivering higher energy yield and rapid execution were some of the steps in this direction.

J.P. Chalasani, Group CEO, Suzlon Group said, ''This achievement is a testament to our strong technical and project execution capabilities and over two decades of experience in the Indian market. We have achieved this excellence despite a challenging year for the industry owing to the transition from Feed‐in Tariff (FiT) to the competitive bidding regime.  We thank our team, 1,800+ customers, lenders, and vendor partners for their unwavering support.  FY19 would be the start of a high volumes market with central and state‐level auctions in India. The sector will witness exponential growth with ~10‐12 GW volumes each year. There is a clear visibility of volumes even before the start of FY19. Suzlon is well positioned to reap the benefits in this new business regime with its end‐to‐end solutions, continuous investment in India specific wind turbine technology, vertically integrated operations and best in class services. Technological innovations will continue to be the bedrock of our growth.''

Shares of the company declined Rs 0.08, or 0.67%, to trade at Rs 11.78. The total volume of shares traded was 209,765 at the BSE (10.07 a.m., Monday).



Suzlon Energy Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Company Update
Thermax wins Rs 2.79 bn order for captive cogeneration plant - 26-Apr-2018 16:52
Yes Bank Q4 net jumps 29% to Rs 11.79 bn - 26-Apr-2018 15:25
Supreme Industries quarterly net up 32% - 26-Apr-2018 13:48
Infratel-Indus merger reflects India telco cash pressure: Fitch - 26-Apr-2018 13:44
Infratel-Indus merger reflects India telco cash pressure: Fitch - 26-Apr-2018 13:44
Indiabulls Real Estate quarterly profit zooms 23.69 times - 26-Apr-2018 12:49
Indoco gets UK health regulators nod to supply critical products - 26-Apr-2018 10:05
Zydus receives final approval from USFDA to market 2 drugs - 26-Apr-2018 09:36
Wipro Q4 earnings fall 6.7% q-o-q to Rs 18 bn - 25-Apr-2018 16:23
Sterlite Technologies quarterly profit surges 77% - 25-Apr-2018 15:42
Reliance Nippon Life Asset Management Q4 profit rises 35% to Rs 1.62 bn - 25-Apr-2018 15:34
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer