Juniper Green Energy placed an order for a wind power project on March 7th, and the renewable energy solutions supplier Suzlon was the recipient of this transaction. As a direct result of this, the share price of Suzlon surged by five percent while it was trading. Wind energy is provided by Juniper Green Energy, which is a supplier.
Suzlon will be responsible for the construction of a wind power station that is capable of producing 72.45 megawatts of electricity on behalf of Juniper Green Energy. A total of 23 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 megawatts (MW) each are going to be installed by the company at the client's location in the Dwarka region of Gujarat. A customer can be found in the state of Gujarat.
On the Bombay Stock Exchange (BSE), the company's stock prices were available for trading for Rs 40.6 a share at 11.50 in the morning. This was the price at which the company's stock was priced. It is important to note that this indicates a five percent increase when compared to the price at which the previous session came to a close.
In addition to being in charge of the delivery of the equipment, Suzlon will be in charge of the execution of the project, which includes the construction and commissioning of the wind turbines. The agreement that was reached between the two parties includes this responsibility as a portion of its terms. As soon as the commissioning procedure is finished, Suzlon will also be responsible for delivering comprehensive operations and maintenance services. This responsibility occurs immediately after the procedure is completed.
“We are delighted to announce our third order with Juniper Green Energy in just a few months,” said JP Chalasani, Chief Executive Officer of Suzlon Group. “We are very excited about having this opportunity.” “We are very excited about having this opportunity.”
“We are very excited about this transaction.” Juniper Green Energy has, throughout a considerable amount of time, established itself as a major actor in the field of research and development about renewable energy. Throughout the years, the organization has made continual efforts to increase the number of renewable energy installations distributed throughout the country. These installations are located in diverse locations.
“Our comprehensive portfolio of worldâclass products customized for the Indian wind regime is manufactured in the country through a thriving domestic value chain ecosystem,” according to the executive's declaration.
The administration is said to have been allegedly considering the prospect of conducting reverse auctions of wind capacity power, according to allegations that surfaced on March 4th.
As a result of the revelation that recent wind bids had higher tariffs and undersubscription, the Ministry of New and Renewable Energy was on the verge of reevaluating its position on reverse auctions and was contemplating the possibility of bringing it back. The reason for this was that the auctions had received a lower number of bidders than expected.
A new lease on life was given to the industry when, at the beginning of 2023, the bidding process was adjusted to incorporate “two-part closed bids,” which introduced a new element of competition. This marked a dramatic shift in status. It was decided to take this measure as a consequence of the significant decrease in capacity expansion. In a note, JM Financial stated that the present move, even though it is unpleasant from the perspective of policy uncertainty, is likely to have a limited impact due to the vast volume of the market (more than 10GW/year), as evidenced by the insufficient number of subscribers. This comes even though the move is unfavorable from the standpoint of policy uncertainty. Even though the lack of clarity on policy is a cause for concern, this is the situation.