Tata Power Renewable Signs 838 MW Wind Turbine Deal with Suzlon to Accelerate India’s Clean Energy Goals

Tata Power Renewable Energy Limited (TPREL), a key player in India’s green energy landscape and a subsidiary of The Tata Power Company Limited (Tata Power), has signed a contract with Suzlon Group (Suzlon) for the supply of wind turbine generators with a combined capacity of 838 MW. These turbines will support TPREL’s various projects across multiple states, scheduled for completion over the next few years.

This partnership reinforces TPREL’s position as a leader in India’s renewable energy transition, playing a vital role in advancing the country’s target of reaching 500 GW of renewable energy capacity by 2030. It also reflects TPREL’s focus on scaling up wind-led clean energy projects that are reliable, dispatchable, and economically viable.

TPREL has a wind energy portfolio exceeding 3.9 GW, with over 1 GW operational and the remainder under various stages of development across Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, Andhra Pradesh, Karnataka, and Tamil Nadu.

Under the agreement, Suzlon - a prominent renewable energy player- will deliver a comprehensive end-to-end solution for these projects, leveraging its extensive expertise in the wind energy domain.

The agreement marks the third strategic collaboration between TPREL and Suzlon, highlighting a strong partnership built over more than a decade.

This initiative supports Tata Power’s overarching goal of achieving 100% clean energy by 2045 and complements its expanding renewable energy portfolio, which currently totals 15.7 GW, with 6.9 GW sourced from clean energy.

Suzlon to Supply 175 Wind Turbines of 3.15 Mw Each to Aditya Birla Group

• Suzlon secures a new 551.25 MW order for the 3 MW series from Global Indian Conglomerate, Aditya Birla Group
• Order to be executed across two sites, 368.55 MW at the site developed by Suzlon in the Barmer district, Rajasthan and another 182.70 MW at the site developed by client in the Bhuj district, Gujarat.
• Generated power to be utilised for captive usage within the Aditya Birla Group companies.
• A project of this size can provide electricity to ~4.54 lakh households and curb ~17.92 lakh tonnes of CO2 emissions per year

Suzlon Group, India's largest renewable energy solutions provider, has announced a new order win for the development of 551.25 MW wind power project for the Aditya Birla Group, a Global Indian Conglomerate. Suzlon will install 175 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each at sites in the Barmer district in Rajasthan and Bhuj district in Gujarat.

This order is for the company's larger rated 3.15 MW, S144-140m turbines from the 3 MW product series. As part of the agreement, Suzlon will supply the wind turbines (equipment supply) and execute the project, including erection and commissioning, in Rajasthan, while they will supply, supervise, and commission the project in Gujarat. Suzlon will also undertake comprehensive operations and maintenance services post- commissioning at both the sites.

This project is a testament to the growing commitment to renewable energy in India and aligns with national targets to ramp up renewable capacities. It's expected to provide electricity to approximately 4.54 lakh households and reduce around 17.92 lakh tonnes of CO2 emissions annually 2. A move like this by a major conglomerate sets an example for others in India Inc. to follow in the pursuit of green energy solutions.

Girish Tanti, Vice Chairman, Suzlon Group, said, "We are delighted to partner once again with the Aditya Birla Group for this order. Suzlon admires and shares the value of nation building with the Aditya Birla Group and welcomes this opportunity to power them with sustainable energy. We applaud ABG's visionary approach to power operations across its group companies with renewable energy and set an example for India Inc. Suzlon's comprehensive and proven product portfolio, customised for the Indian wind regime, will be instrumental in ramping up India's renewable energy capacities in line with our national targets while powering the Indian industry with green energy."

JP Chalasani, Chief Executive Officer, Suzlon Group, said, "Every repeat customer is a validation of our technology and service prowess. I am grateful that the Aditya Birla Group has reaffirmed their faith in Suzlon's end-to-end solutions, products, and service excellence. This order will enable us to further strengthen our presence in Rajasthan and Gujarat while helping the states unlock their true wind energy potential. Every Suzlon turbine is a testament to "Make in India" and "Aatmanirbhar Bharat" being manufactured in India through a thriving domestic ecosystem."

Jayant Dua, Business Head and Director, Aditya Birla Renewables Limited, said, "At Aditya Birla Renewables Limited, we prioritise partnerships that enhance our mission to power India Inc. with renewable energy, expanding the accessibility of green power throughout the country. Suzlon's technological expertise, manufacturing capabilities, and comprehensive project development skills will help accelerate our energy transition journey and support our net-zero commitments."

Suzlon turbines feature the time tested Doubly Fed Induction Generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon's R&D efforts are continuously geared towards increasing turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.

Suzlon Gets New Orders of 402 MW from Juniper Green Energy; To Supply 134 Wind Turbine Generators (WTGs) Each of 3 MW Capacity

• Project at Fatehgarh site in Rajasthan, with a total installed capacity of 402 MW
• Generated power will be provided under FDRE (Firm and Dispatchable Renewable Energy) Hybrid and Merchant projects
• Projects of this size can provide electricity to ~3.31 lakh households and curb ~13.07 lakh tonnes of CO2 emissions per year

Suzlon Group, India's largest renewable  energy solutions provider, today announced new order wins for the development of 402 MW wind energy projects for Juniper Green Energy. Suzlon will install a total of 134 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW for both projects at the Suzlon proposed site at Fatehgarh in Rajasthan.

These are repeat orders from the customer for the company's larger rated 3 MW, S144-140m turbines from the 3 MW product series. As part of the agreement, Suzlon will supply the wind turbines and execute the project including foundation, erection, and commissioning. Suzlon will also undertake comprehensive operations and maintenance services post-commissioning.

Girish Tanti, Vice Chairman, Suzlon Group, said, "Juniper Green Energy has been a long-term, repeat customer for us, and we are delighted to partner with them again. This order helps us expand our footprint in Rajasthan. The electricity generated from these projects will help realise the vision of the Rajasthan government to serve the people of the state with green energy. Suzlon's proven product portfolio, customised for the Indian wind regime, is dedicated to reducing the cost of energy while increasing affordability and accessibility of renewable energy in line with our national targets. At Suzlon, we are committed to India's renewable ambitions while staying true to the vision of 'Make in India' and an Aatmanirbhar Bharat."

JP Chalasani, Chief Executive Officer, Suzlon Group, said, "We are delighted to announce multiple repeat orders with Juniper Group in the last one year. Juniper, a leading Indian Independent Power Producer (IPP) of great repute, has consistently worked towards increasing renewable energy installations in the country. Suzlon takes pride in the fact that committed customers like Juniper Green Energy continue to choose our leading technology and comprehensive capabilities throughout the entire wind energy value chain. Our comprehensive portfolio of world-class products customised for the Indian wind regime are manufactured in the country through a thriving domestic value chain ecosystem."

Naresh Mansukhani, Chief Executive Officer, Juniper Green Energy Private Limited, said, "At Juniper, we always strive for alliances that help us in our journey of increasing the reach of renewable energy in India with a focus on sustainability. We are delighted to partner with Suzlon again as the country's leading renewable energy solutions provider. Suzlon's unmatched technology and comprehensive EPC capabilities help us fulfill our vision of building a sustainable India through cost- effective, Made in India renewable energy solutions."

Suzlon turbines feature the time tested Doubly Fed Induction Generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon's R&D efforts are continuously geared towards increasing turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.

Juniper Green Energy is an independent renewable energy power producer and operator of solar, wind and hybrid power projects with significant experience in conceptualizing, building, and developing renewable energy assets. The company is part of the AT Group, which has an asset portfolio worth of approximately US$2.5 billion with global investments in renewable energy, residential & commercial real estate, hospitality, etc. The Group has been building utility scale renewable energy projects in India since 2010 and has built and owned Orange Renewable, a 1 GW renewable energy platform in the past.

Juniper Green Energy, based out of Delhi NCR, commenced operations in October 2018. The business has experienced rapid growth, and it presently has an operational portfolio of about 1 GW with an under-construction capacity of 1.5 GW and a development pipeline of close to 5.5 GW of solar, wind and hybrid projects. The company has end-to-end internal competencies in EPC and O&M services for its renewable projects.

Suzlon To Merge Suzlon Global Services, A Wholly-Owned Subsidiary, with Itself

The board of Suzlon Energy has approved a restructuring plan that involves the merger of its wholly-owned subsidiary, Suzlon Global Services, with itself. The company has highlighted that this amalgamation will result in a simplified group structure and improve transparency.

Additionally, Suzlon Energy plans to transfer its project business through a slump sale to one or more wholly-owned subsidiaries.

This is part of a broader capital reorganisation exercise that also includes the merger of Suzlon Energy, Mauritius, another wholly-owned subsidiary, with the parent company.

The tentative timeline for the completion of the merger is 6-10 months, subject to necessary approvals. Suzlon Global Services manages the operation and maintenance of wind turbine generators among other businesses. Since it is a wholly-owned subsidiary, no shares will be allotted as part of the merger. The company also expects that the merger will strengthen its stand-alone balance sheet, which is crucial for public sector unit bids.

It's worth noting that Suzlon Energy shares have seen significant movement in the past years, with a notable increase in value over one, three, and five-year periods. The restructuring is seen as a positive step towards streamlining operations and enhancing efficiency within the company.

The merger of Suzlon Energy with its wholly-owned subsidiary, Suzlon Global Services, is driven by several strategic reasons aimed at strengthening the company's position and streamlining its operations. Here are the key factors cited by Suzlon for the restructuring exercise:

1. Stronger Financial Position: The merger is expected to consolidate the financials, leading to a more robust balance sheet.

2. Unified Contracting: By combining the entities, Suzlon aims to simplify the contracting process for its customers.

3. Elimination of Inter-Company Outstanding: The merger will help in eliminating inter-company transactions, which can simplify financial statements and operations.

4. Efficient Utilisation of Resources: The consolidation is aimed at better resource management across the combined entity.

5. Streamlining Group Structure: The merger will result in a simplified group structure, which is anticipated to improve transparency and efficiency.

6. Benefit of Combined Resources: By merging, the company can leverage the combined resources for better operational performance.

7. Efficiency in Business Operations: The merger is expected to bring efficiency in the business operations of the Wind Turbine Generation and Operations and Maintenance (OMS) businesses.

These factors are part of Suzlon's broader capital reorganisation exercise, which includes transferring its project business through a slump sale to one or more wholly-owned subsidiaries and merging Suzlon Energy, Mauritius, with itself.

The overall goal is to create a more streamlined, efficient, and financially stable company that can better compete in the renewable energy market.

Suzlon Secures New Order for 10 Wind Turbines for 30 MW Project of EDF Renewables in Gujarat

• To supply 10 wind turbines with a rated capacity of 3 MW each
• Project in Gujarat, with a total installed capacity of 30 MW
• Electricity generated from the project will be supplied to Gujarat Urja Vikas Nigam Ltd.(GUVNL)
• A project of this size can provide electricity to over 24 thousand households and curb over 97 thousand tonnes of CO2 emissions every year

Suzlon Group, India's largest renewable energy solutions provider, today announced a new order win for the development of a 30 MW wind power project for EDF Renewables. Suzlon will install 10 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each. The project is located in Gujarat.

This is a repeat order for the company's largest turbine series, S144-140m with a rating of 3 MW. Suzlon will execute the project with a scope of supply, supervision, erection and commissioning. Additionally, Suzlon will also undertake post-commissioning operations and maintenance services.

JP Chalasani, Chief Executive Officer, Suzlon Group, said, "EDF Renewables is a highly reputed Global power company with an established track record in renewable energy. Therefore, receiving an order from them is a matter of pride for us. This order is a testament to the quality and reliability of our technology and service solutions. The power generated from this project will serve the people of Gujarat with clean, green, renewable power. Suzlon is committed to serving our customers' green portfolios and the nation with our proven technology, extensive experience, and service excellence."

Every Suzlon turbine is manufactured in the country through a thriving domestic value chain ecosystem in line with our commitment to the vision of an Aatmanirbhar Bharat.

Arne Lorenzen, Chief Executive Officer, EDF Renewables India said, "At EDFR we are committed to contributing towards India's Net Zero target. Our focus is towards continuous sustainable development with safety as our topmost priority. Within our organisation we daily practice our motto of Everyone goes home safe everyday. We are delighted to partner with one of India's leading wind turbine providers, Suzlon Energy, for this project. We look forward to leveraging Suzlon's extensive experience in the Indian wind market to make this project successful. We want to operate and expand our clean energy portfolio in India in the years to come."

Suzlon turbines feature the time tested Doubly Fed Induction Generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon's R&D efforts are continuously geared towards increasing the turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.

About EDF Renewables

EDF Renewables is one of the Global players in the renewable energy sector. With a our installed capacity of over 11 GW, in more than 20 countries, the organization is one of the major players in leading the World energy transition by deploying the competitive, responsible and value creating projects. In India the company operates an installed wind capacity is currently over 600 MW with further capacities in the pipeline. EDF Renewables is committed to provide future generations the most economic, environmentally, and socially power towards a CO2 - neutral energy future.

About The Suzlon Group

The Suzlon Group is one of the leading renewable energy solutions providers in the world with ~20.5 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises of Suzlon Energy Limited (NSE: SUZLON & BSE: 532667) and its subsidiaries. A vertically integrated organisation, with in-house research and development (R&D) centres in Germany, the Netherlands, Denmark and India, Suzlon's world-class manufacturing facilities are spread across multiple locations in India. With over 28 years of operational track record, the Group has a diverse workforce of over 6,300 employees. Suzlon is also India's No. 1 wind energy service company with the largest service portfolio of over 14.5 GW in wind energy assets. The Group has ~6 GW of installed capacity outside India. Suzlon offers a comprehensive product portfolio led by the 2 MW and 3 MW series of wind turbines.

*Global installations of Suzlon manufactured wind turbine generators. Data as on 31st December 2023

Suzlon Secures A New 225 MW Order for their 3 MW Series from Everrenew Energy

• To supply 75 wind turbines with a rated capacity of 3 MW each
• Project at the client's sites at Vengaimandalam, Trichy district and Ottapidaram, Tuticorin district, Tamil Nadu with a total installed capacity of 225 MW
• Electricity generated from the project to be used for captive consumption and to power C&I customers
• A project of this size can provide electricity to ~1.85 lakh households and curb ~7.31 lakh tonnes of CO2 emissions per year

Suzlon Group has announced a new order win for the development of a 225 MW wind power project for Everrenew Energy Private Limited. Suzlon will install 75 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each at the client's sites at Vengaimandalam, Trichy district and Ottapidaram, Tuticorin district in Tamil Nadu.

This orderis for the company's largerrated 3 MW, S144-140m turbines from the 3 - 3.15 MW product series. As part of the agreement, Suzlon will supply the wind turbines (equipment supply) and supervise the project, including commissioning. Suzlon will also undertake comprehensive operations and maintenance services post-commissioning.

Girish Tanti, Vice Chairman, Suzlon Group said, "As India's renewable energy ambition sets benchmarks across the world, we are honoured to partner with companies across the value chain to further their renewable energy goals. India has one of the most conducive policy environments and a thriving ecosystem from R&D and manufacturing to operations and maintenance services. Combined with one of the lowest costs of energy in the world, these factors make Indian renewables stand out in the global market. This project with Everrenew Energy serves the promising C&I segment of the Indian market, which will be important in driving our national targets over time."

JP Chalasani, Chief Executive Officer, Suzlon Group, said, "Each repeat order is a matter of pride for us. Everrenew has been a cherished customer, and we are grateful that they have reaffirmed their faith in our comprehensive and proven product portfolio, customised for the Indian wind regime. The Power generated from this project will be used for captive needs as well as target the Commercial & Industrial (C&I) consumer segment, creating deeper penetration of renewable energy in India. Every Suzlon turbine is manufactured in the country through a thriving domestic value chain ecosystem which is a testament to our contribution to the vision of an Aatmanirbhar Bharat."

R. Venkatesh, Chief Executive Officer, Everrenew Energy Private Limited, said, "At Everrenew, we strongly believe in the transformative power of renewable energy. Our unwavering commitment lies in delivering sustainable solutions tailored to our customers' unique needs. Customer satisfaction is paramount to us, and our ability to execute projects swiftly is a testament to one of our key strengths. Partnering with Suzlon brings us great collaboration, and our repeat orders underscore our trust in their reliable technology and great track record in India. Also, Suzlon's dedication to the 'Aatmanirbhar Bharat' initiative is evident in their range of 'Made-in-India' products, aligning seamlessly with our guiding principles. Everrenew is dedicated to driving the adoption of renewable energy in the C&I segment and facilitating impactful energy transition journeys. Anticipate ground breaking renewable projects as we forge ahead into the future."

Suzlon turbines feature the time tested Doubly Fed Induction Generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon's R&D efforts are continuously geared towards increasing turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.

About Everrenew Energy Private Limited

Everrenew is India's fast-growing renewable energy company, which provides a one-stop project management solution for wind, solar and hybrid projects with asset management. Our service includes Wind Resource assessment, Solar assessment, Site identification, permit & approval, land acquisition and development, civil, procurement & logistics, commissioning, and asset management. Everrenew is committed to providing renewable solutions with all-around capabilities that help organizations move progressively towards a sustainable future that is reliable, affordable & efficient. At Everrenew, safety is a way of life. We give utmost importance to the safety of our employees & contractors. Our key Business Verticals are Turnkey solutions for Wind, Solar, and hybrid projects, Asset management, Industrial Rooftops, Smart Energy Meters, and Solar water pumps. In 2023, we successfully commissioned 800+MW of Wind, Solar Projects, and hybrid projects across India & around 2700+ MW of wind, solar & Hybrid projects are under execution.

About The Suzlon Group

The Suzlon Group is one of the leading renewable energy solutions providers in the world with ~20.3 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises of Suzlon Energy Limited (NSE: SUZLON & BSE: 532667) and its subsidiaries. A vertically integrated organisation, with in-house research and development (R&D) centres in Germany, the Netherlands, Denmark and India, Suzlon's world-class manufacturing facilities are spread across 14 locations in India. With over 28 years of operational track record, the Group has a diverse workforce of over 6,000 employees.

Suzlon is also India's No. 1 wind energy service company with the largest service portfolio of over 14.3 GW in wind energy assets. The Group has ~6 GW of installed capacity outside India. The 3 MW Series wind turbine technology platform is the latest addition to its comprehensive product portfolio. Suzlon offers a comprehensive product portfolio led by the 2 MW and 3 MW series of wind turbines.

**Global installations of Suzlon manufactured wind turbine generators. Data as on 30th September 2023. 

Suzlon Secures Two New Orders of 100.8 MW Each from Mahindra Susten and A Leading Nordic Energy Company

Suzlon Group has announced two new separate orders for wind power projects in Maharashtra and Karnataka respectively of 100.8 MW each from — Mahindra Susten Private Limited, a Mahindra Group company, and the Indian subsidiary of a leading Nordic Energy Company.

For Mahindra Susten, Suzlon will install 48 units of their S120 - 140m wind turbine generators (WTGs) with a Hybrid Lattice tubular (HLT) tower and a rated capacity of 2.1 MW each in Maharashtra. Suzlon will execute the project with a full scope of supply, installation, and commissioning. Additionally, Suzlon will also undertake post-commissioning operation and maintenance services.

Electricity generated from the project will be supplied to Commercial and Industrial(C&I) customers in the state of Maharashtra.

For the Nordic Energy Company, Suzlon will install 32 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each. The project is located at Karnataka. This is the repeat order from the customer for the company's largest turbine rated 3.15 MW, S144- 140m from the 3 MW series. As part of the agreement, Suzlon will supply the wind turbines (equipment supply) and supervise the project including commissioning. Suzlon will also undertake comprehensive operations and maintenance services post-commissioning.

Deepak Thakur, Managing Director and CEO, Mahindra Susten Pvt. Ltd. said, "At Mahindra Susten, we are committed to shaping a sustainable and carbon neutral India. We are delighted to partner with Suzlon, a leading renewable energy solutions provider with reliable technology and a great track record in India. Suzlon's 'Made-in-India' products complement our ideology of supporting 'Aatmanirbhar Bharat'. We look forward to creating many landmark IPP renewable energy projects in the future with a focus on increasing adoption of renewable energy in India."

Girish Tanti, Vice Chairman, Suzlon Group said, "We are delighted to partner with Mahindra Susten, for their first wind energy project. Indian conglomerates like the Mahindra Group are setting examples for corporate India towards embracing renewable energy and meeting India's national sustainability goals. Suzlon deeply shares the values of responsibility, larger good and nation building with Mahindra making this association even more special. This order for our highly successful S120 turbines goes a long way in demonstrating our technology strength through a comprehensive portfolio of proven wind energy technologies."

On receiving repeat order from a Nordic Energy Company, Girish Tanti said, "We are delighted to partner again with the leading Nordic Energy Company. As India's renewable energy ambition sets benchmarks across the world, we are honored to welcome reputed global companies to the Indian market and stand committed to partnering with them every step of the way. A visionary policy environment, a robust domestic market and thriving local supply chain makes India an extremely lucrative renewable energy market for investors and utilities. The Suzlon 3 MW series is the next stage evolution of our proven technology, customized for the Indian wind regime and 3.15 MW is one of the largest wind turbines in the country today."

Suzlon Secures A Repeat Order of 193.2 MW from The KP Group in Gujarat

• To supply 92 wind turbines with a rated capacity of 2.1 MW each
• Project with a total installed capacity of 193.2 MW to be completed at Vagra and Vilayat in Bharuch district of Gujarat
• This will be part of Wind-Solar Hybrid and STU's (State Transmission Utility) tariff based project for increasing Renewable Energy contribution in the state
• A project of this size can provide electricity to ~1.25 lakh households and curb ~4.96 lakh tonnes of CO2 emissions per year.

Suzlon Group, India's largest renewable energy solutions provider, has announced a new order win for the development of a 193.2 MW wind power project for The KP Group. This will be part of Wind-Solar Hybrid and STU's (State Transmission Utility) tariff-based project for increasing Renewable Energy contribution in the state of Gujarat. Suzlon will supply 92 units of their S120 - 2.1 MW wind turbine generators (WTGs) with a 140m Hybrid Lattice Tubular (HLT) tower at Vagra and Vilayat in Bharuch district of Gujarat.

Suzlon will execute the project with a scope of supply, supervision, and commissioning. Additionally, Suzlon will also undertake post-commissioning operation and maintenance services.

Girish Tanti, Vice Chairman, Suzlon Group said, "With an extremely conducive policy environment offered by Gujarat, this order from The KP Group is a testament of India Inc's commitment to building a sustainable India. It is heartening to see the private sector step up to the task with such enthusiasm, especially through the C&I segment that will help MSME to become globally competitive by switching to green power."

JP Chalasani, Chief Executive Officer, Suzlon Group said, "We are delighted to announce a repeat order from The KP Group. The KP Group has been a long-standing player in renewable energy and has consistently worked towards increasing renewable energy installations in the country. Suzlon takes pride in the fact that committed customers like The KP Group continue to select our leading technology and comprehensive capabilities throughout the entire wind energy value chain. The power generated from this project will inter-alia serve the Commercial & Industrial (C&I) consumer segment and the people of Gujarat with clean, green, renewable power. Suzlon is committed to partner with increasing number of Indian industries, driving them toward their net-zero targets while powering the nation with sustainable energy."

Every Suzlon turbine is manufactured in the country through a thriving domestic value chain ecosystem which is a testament to our contribution to the vision of an Aatmanirbhar Bharat.

Dr. Farukbhai Gulambhai Patel, Chairman and Managing Director, KP Group said, "This project is in line with our goal to unlock India's renewable energy potential and power the commercial and industrial sectors and the people of Gujarat. As India's leading renewable energy solutions provider with proven technology, Suzlon is the right partner for us. We have had a long and fruitful association with Suzlon in the past using their cost-effective Made-in-India solutions to create an 'Aatmanirbhar Bharat'. With nearly three decades of serving India with renewable energy The KP Group is focussed on increasing its green energy footprint in India helping our customers' power their growth and electricity requirements with clean energy."

Suzlon turbines feature the time tested Doubly Fed Induction Generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon's R&D efforts are continuously geared towards increasing turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.

About The KP Group

The KP Group was founded by Dr. Farukbhai Gulambhai Patel in 1994 which is now well recognized group of Gujarat. What started as a logistics service provider in 1994 is now a group with a combined turnover of around Rs. 12 Billion with 1GW commissioned in Renewable projects.

The Group has completed more than 28 years of its successful operations and today consists of several group of companies, all contributing to the fast and robust growth of the group. During the last decade the group has achieved phenomenal growth as a result of diversification into fabrication and galvanizing, renewable energy sector (Solar & Wind) and Telecom infrastructure. Major Group Entities include, KPI Green Energy Limited, KP Energy Limited, KP Green Engineering Pvt Limited, and KP Human Development Foundation.

The Group has leveraged rapid industrialization and economic progress of the country by developing business in renewable energy sector (Solar & Wind). KP Group has successfully completed Initial Public Offer in both Solar and Wind renewable energy. The flagship companies of the KP Group, KPI Green Energy Limited is listed on Main Board Platform BSE Limited and National Stock Exchange of India Limited and KP Energy Limited is listed on Main Board Platform of BSE Limited.

About The Suzlon Group

The Suzlon Group is one of the leading renewable energy solutions providers in the world with ~20.3 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises of Suzlon Energy Limited (NSE: SUZLON & BSE: 532667) and its subsidiaries. A vertically integrated organisation, with in-house research and development (R&D) centres in Germany, the Netherlands, Denmark and India, Suzlon's world-class manufacturing facilities are spread across 14 locations in India. With over 28 years of operational track record, the Group has a diverse workforce of over 6,000 employees. Suzlon is also India's No. 1 wind energy service company with the largest service portfolio of over 14.3 GW in wind energy assets. The Group has ~6 GW of installed capacity outside India. Suzlon offers a comprehensive product portfolio led by the 2 MW and 3 MW series of wind turbines.

**Global installations of Suzlon manufactured wind turbine generators. Data as on 30th September 2023

Suzlon Energy Opens its Rights Issue

Suzlon Energy Limited, one of India’s top manufacturers in the wind component manufacturing segment as per capacity, and one of the top renewable O&M service providers in India, has opened its rights issue to raise up to Rs. 1,200 crore, on October 11, 2022. The entitlement ratio for the rights issue is 5:21 (five shares for every twenty one equity shares held by eligible shareholders of the Company, as on the record date of October 4, 2022).

With a footprint across 17 countries spread over six continents, Suzlon Energy has the largest wind installed base as a wind energy OEM, with approximately 13.45 GW of installed capacity in India as at June 30, 2022. It contributes towards nearly 33% of India’s wind installed base. It is also the largest wind O&M service provider in India, in terms of capacity. The Company also has an installed capacity of approximately 5.96 GW outside India, aggregating to a global installed capacity of 19.44 GW.

Suzlon has 16 manufacturing facilities across India in strategic locations, to manufacture forging and foundry components that are required for the manufacture of Wind Turbine Generators and their components. The Company already has an order book of 700MW in place for execution. Due to its established track record over 27 years and vertically integrated low-cost supply chain, Suzlon has relationships with several customers, including large independent power producers, public sector undertakings and marquee institutions.

The Company expects growth to be driven by the Commercial & Industrial (C&I) segment, which is gaining strong momentum due to wind energy being critical for high PLF projects. In addition, the emergence of hybrid (solar + wind) power also is a key driver, as most of the customers and utilities prefer higher PLF and scheduled power availability. Finally, wind repowering is also expected to drive nearly 20GW of capacity till 2030, since existing wind capacities would need rebuilding. Government policies also bode well for the wind energy sector, amongst which is the in-principle decision to stop electronic reverse auction for wind power projects in India.

The Promoters and Promoter Group have re-confirmed their participation in the upcoming rights issue, and also declared that they will be fully subscribing to the extent of their rights entitlement. One of the significant investors in the Company, Mr Dilip Shanghvi has also confirmed his intention to fully participate in the rights issue with subscribing for additional shares, as per a disclosure filed with the stock exchanges. The rights issue does not have a minimal threshold of subscription; the Company will be able to use the proceeds raised through the rights issue irrespective of subscription level.

The proceeds of the rights issue will be used to reduce the outstanding debt of the Company, which in turn will strengthen the balance sheet, reduce interest cost outgo, and improve profitability. This in turn will also unlock working capital for the Company to further increase its project execution. As per the Letter of Offer, the Company currently has Rs. 3,272 crores of debt, part of which will be paid off using the proceeds of the rights issue.

Speaking on the development, Chairman and Managing Director Vinod R Tanti said, “Suzlon Energy has an established track record in the wind energy sector with more than 27 years of experience. We are one of India’s top manufacturers in the wind component manufacturing segment as per capacity and are one of the top renewable O&M service providers in India, as per capacity serviced. Our long history provides us with the network and strategic alliances that in-turn provide us access to diversified development projects across all of India’s wind resource rich states.”

Speaking on the development, Executive Vice Chairman Girish Tanti said, “Renewable capacity additions are likely to increase further to 95-100 GW over Fiscals 2023 to 2027, primarily due to environment-driven shift towards renewable generation, government support through favourable policies for domestic equipment manufacturing and renewable power offtake, growing participation from central generation companies in addition to existing private entities, and strong funding support. The overall installed capacity is expected to reach 520-525 GW by Fiscal 2027, supported by wind capacity growth at a CAGR of 9-10%. Suzlon Energy’s leading market share makes it well-positioned to leverage its reputation and existing customer relationships to take advantage of anticipated future growth in demand for renewable energy sources.”

Suzlon also aims to continue to improve its financial position through its liability management program, and through the sale of non-core assets. The Company is also seeking to achieve greater operational efficiencies and reduce fixed cost by: (i) focusing on sale of WTG in the Indian market; (ii) reorganising its various business divisions; (iii) developing new WTG models that are customised for the India market; (iv) expanding the O&M service business in India; and (v) optimized funding of working capital requirements.