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Suzlon Energy gains after achieving 10,000 MW installed wind energy milestone

According to reports, Suzlon Energy rose 2.96% to Rs 15.65 at 10:18 IST on BSE after the company said it achieved 10,000 megawatts installed wind energy milestone in India.

The announcement was made after trading hours yesterday, 16 January 2017.

Meanwhile, the BSE Sensex was up 13.96 points, or 0.05%, to 27,302.13.

The stock hit a 52-week high of Rs 20.70 on 1 February 2016. The stock hit a 52-week low of Rs 12.47 on 9 November 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 5.48% compared with the 3.01% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 5.85% as against Sensex’s 2.72% decline.

The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.

Suzlon Energy achieved the 10,000 megawatts (MW) cumulative wind energy instailations in India (over 7,500 wind turbines installed pan-India). Suzlon’s 10,000 MW of wind installation is capable of powering over 5 million households per annum and offsets approximately 21.5 million tonnes of Carbon Dioxide (CO2) emission annually which is equivalent to planting over 1500 million trees. With cumulative wind energy installations of over 15,500 MW worldwide, Suzlon operates across 17 countries and has over 1700 customers across the globe.

Suzlon said it will focus on continuous research and development (R&D) to harness technology and reduce levelised cost of energy by increasing plant load factor (PLF) and making low wind sites viable. Suzlon has witnessed an overhaul in terms of technology and its wide range of products is testament towards the same. Suzlon’s end to end solutions approach and presence across entire value chain from concept to commissioning, proven execution capabilities and dedicated life cycle asset management service provider gives it a strong competitive advantage over its peers, the company added.

On a consolidated basis, Suzlon Energy reported net profit of Rs 237.62 crore in Q2 September 2016 as against net loss of Rs 201.66 crore in Q2 September 2015. Net sales rose 57.30% to Rs 2746.18 crore in Q2 September 2016 over Q2 September 2015.

The Suzion Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America. The group has a cumulative installation of approximately 15.5 GW of wind energy capacity.

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