Suzlon Energy, the world's fifth largest wind turbine supplier, witnessed a rise in share price on Tuesday after it announced that the company will supply 98MW project to Mytrah at Nazeerabad in Ranga Reddy district of Telangana state. It is scheduled for commissioning in 2016.
Suzlon's role in the project involves installing and commissioning 47 WTGs of its revolutionary S97 120m Hybrid Tower WTGs with rated capacity of 2.1MW each. The order is part of the Business Partnership Agreement (BPA) signed with Mytrah in May 2010 to purchase 1 GW of turbines from Suzlon Group.
The project is the third repeat order awarded by Mytrah to Suzlon Energy. Suzlon has already commissioned 310MW wind energy project for Mytrah so far and 205 MW is under execution in Rajasthan, Maharashtra and Andhra Pradesh.
Shares of Suzlon Energy are trading at Rs 26.60, up Rs 0.45, or 1.72% at the Bombay Stock Exchange (BSE) on Tuesday at 1:51 p.m.
Total volume of shares traded on the bourses today was higher by 386.84% to 42,101,315 compared with 22-day average volume of 8,647,876.