Suzlon share price rebounded from day’s low after the company announced its growth ambition of 10 GW Renewable Energy sales and 70 GW of Asset Under Management (AUM).
Suzlon Energy said it is entering a transformative growth phase – Suzlon 2.0 with an ambition to become one of the world’s most integrated renewable energy companies.
By FY31, the company aims to expand annual renewable energy sales fourfold to 10 GW, grow its orderbook to 15 GW, and scale its AUM fourfold to 70 GW, building a strong annuity-led business.
“This growth will be supported by a ~40% market share in India’s wind market, 3 GW export order intake, and a shift towards a higher-value mix by targeting a ~60% volume contribution from RE DevCo,” Suzlon Energy said in a release on June 3.
Suzlon is India’s first full-stack renewable energy company encompassing all technologies – Wind, Solar, BESS and Energy Management Service – under a single, bankable delivery model.
It launched RE DevCo, India’s first integrated renewable energy co-development platform, which is expected to contribute ~60% of volumes.
“RE DevCo will be the growth engine of Suzlon 2.0. We aim to capture 60% of our volume contribution from RE DevCo, leading to 40% market share in the Indian wind market. We are targeting 15 GW of RE orderbook and 3 GW of export order intake by FY31,” said Ajay Kapur, Chief Executive Officer, Suzlon Group.
Suzlon Share Price Performance
Suzlon share price has fallen 3% in one month and has rallied over 32% in three months. The stock has gained 3% in six months, but has fallen 20% in one year. Suzlon shares have delivered multibagger returns of 393% in three years, and a staggering 734% returns over the past five years.
At 2:40 PM, Suzlon share price was trading 0.68% lower at ₹54.16 apiece on the BSE.
