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Suzlon Energy gains on winning new project

Suzlon-Energy, Issue Shares, Bond, Conversion, Stock Market

Suzlon Energy shares extended gains for the fifth trading session in a row on Tuesday after the company informed the exchanges on Monday post market hours that it bagged an order for a wind power project in Telengana.
Suzlon Energy shares surged as much as 3 per cent to an intraday high of Rs 26.90 on Tuesday.
Under the order Suzlon Energy will supply 47 'S97' 120 metre hybrid tower turbines of 2.1 MW capacity each for 98.7 MW project to Mytrah at Nazeerabad in Telangana, the company said in a statement.
The 'S97' 120m is the world's tallest hybrid tower designed to harness the wind energy across low wind sites. It is a combination of lattice and tubular structure which ensures higher yield and increased power output of over 12-14 per cent at 90 meter tower.
The order is part of the business partnership agreement (BPA) signed between the two companies in May 2010 to purchase 1,000 MW of turbines from Suzlon.
Suzlon has already commissioned 310 MW wind energy project for Mytrah so far and 205 MW is under execution in Rajasthan, Maharashtra and Andhra Pradesh.
Commenting on the order, Suzlon chairman Tulsi Tanti said, "Indian renewable sector is witnessing the positive winds of change and Suzlon will continue to be the catalyst of wind energy in India."
"We are well positioned to drive growth in this sector and will continue to focus our R&D efforts to bring down the cost of energy," added Mr Tanti.
He further said that the company's robust order book, positive business outlook and conducive policy framework in India gives it immense confidence to deliver on its goals.
As of 12.35 p.m. shares in Suzlon Energy traded 1.34 per cent higher at Rs 26.50 apiece, outperforming the broader Nifty, which was up 0.24 per cent..

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