Suzlon bags repeat order from Orange Renewable
06 October 2015
Shares of Suzlon Energy gained nearly 5 per cent in trade this morning after the wind turbine manufacturer announced that it had won a repeat turnkey order of 100.8 MW from Orange Renewable.
"Suzlon Group has won a repeat turnkey order from Orange Renewable, an independent power producer (IPP) for 100.8 MW to be installed in Beluguppa, Andhra Pradesh, India," said the country's largest turbine maker in a regulatory filing.
"Suzlon will offer operation and maintenance service for an initial period of 12 years through an integrated services package," the company added.
The project will be commissioned in the fiscal year 2016-17.
"We are pleased to receive this repeat order from Orange Renewable. With increasing demand from domestic and international IPPs, the wind energy sector has gained a pivotal role in bolstering the development of India's energy landscape," said Ishwar Mangal, chief sales officer,.
"This is a second project with Suzlon and demonstrates belief in Suzlon as a technology partner," said Sudhir Nunes, CEO of Orange Renewable.
Orange Renewable is a subsidiary of AT Holdings, Singapore.