Shares of Suzlon Energy rose nearly 4%, touching the day's high of Rs27.40, after the company said it has signed a contract for a 100 megawatts wind power project with CLP India.
Suzlon Energy said that the latest contract from CLP India comprises 48 units of Suzlon's latest S97-2.1 megawatts (MW) wind turbines, featuring DFIG technology. The project will be set up in Rajasthan and is scheduled to be commissioned by January 2013. Suzlon will execute the contract under its end-to-end business model. The deal is valued at over Rs 600 crore (approximately $122 million), the company said in a statement.
Commenting on the project, Mr Tulsi Tanti, Chairman, Suzlon Group said, 'This order from CLP India reflects the trust instilled in Suzlon and our latest S9X turbines by a globally renowed utility IPP. We have proven end-to-end capabilities in India, including low cost manufacturing set-up, as well as a strong pipeline of projects in all windy states. Suzlon has the expertise of setting-up and operating over 6,800 MW of wind energy assets. Our dedicated IPP solutions team is experienced and equipped to meet the specific requirement of the IPP segment customers and have been successfully executing many large contracts. Suzlon is happy to partner with a globally experienced utility IPP like CLP India and looks forward to nurturing a long term relationship'.
CLP India is a wholly owned subsidiary of the CLP Group. The company is a leading independent power producer (IPP) and has built a portfolio that covers renewable energy, supercritical coal and gas fired generation, amounting to over 2,715 MW.
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