For the second quarter of FY25 ending September 30, 2024, Suzlon reported net sales of ₹2,093 crore, an increase of 48% over the same period last year. Deliveries reached 256 MW, an increase of 94% year-on-year, a sign of strong demand in the renewable energy sector. EBITDA grew 31% YoY to ₹294 crore, with an EBITDA margin of 14.1%, while net margin was recorded at 9.6%.

The company’s closing order book now reaches a record high of 5.1 GW, including India’s largest wind power order from NTPC Green Energy Limited (NGEL) for 1,166 MW, representing three major projects in Gujarat.

Suzlon’s collaboration with NTPC Green Energy Limited, the renewable arm of NTPC, involves the installation of 370 wind turbines, each equipped with the advanced Hybrid Lattice Tubular (HLT) tower and with a rated capacity of 3.15 MW.

Additionally, Suzlon secured a large order of 400 MW from JSP Green Wind 1 Pvt. Ltd., a subsidiary of Jindal Renewables, marking the largest gain in the commercial and industrial (C&I) sector, further strengthening India’s clean energy goals.

Strategic acquisition

During the quarter, Suzlon also acquired a 76 percent stake in Renom Energy Services Private Limited, India’s largest multi-brand operation and maintenance services provider, which currently manages 1,782 MW of wind assets, 148 MW of solar assets and 572 MW of assets. -factory infrastructure (BOP) across various customer segments. This strategic acquisition will strengthen Suzlon’s capabilities to manage diversified renewable assets and increase its presence in the O&M market.

To support its growth and financial stability, Suzlon monetized its head office, ‘One Earth’, for ₹440 crore, thereby aligning with its strategy to reduce assets and efficiently utilize capital to support the expansion of its order book. This monetization aims to strengthen Suzlon’s internal financing for growth-oriented projects.

Suzlon’s flagship S144 wind turbine model, designed for low wind conditions, continues to drive demand with a firm order book of 4.7 GW. The company is expanding its manufacturing capabilities to meet this growing demand, demonstrating its commitment to product innovation.

On the human resources front, Suzlon’s workforce has expanded to more than 7,700 employees. The company doubled its diversity efforts, launched new initiatives for talent development and recorded 1.54 lakh learning hours among its staff, strengthening its operational continuity and its ability to deliver projects at large scale.