Suzlon Energy’s Role in India’s Renewable Energy Goals
Suzlon Energy share price: India is making significant strides towards its ambitious goal of generating 300 GW of renewable energy over the next six years. A pivotal player in this transition is Suzlon Energy, a well-established leader in the wind and renewable energy sector. In an enlightening discussion with a CNBC-Awaaz correspondent, Girish Tanti, the Vice Chairman of Suzlon Energy, elaborated on the company’s contributions to India’s renewable energy mission and outlined its future plans.
Current Market Position
As of now, Suzlon Energy boasts an impressive 32% market share in the wind energy installation sector across India, which currently has a total of 47 GW of wind energy installed. Out of this, Suzlon contributes a substantial 15 GW. This solid foundation positions the company favorably to capitalize on India’s growing energy needs.
Strategic Expansion Plans
Suzlon Energy is gearing up for substantial investments in wind energy across eight key states: Gujarat, Rajasthan, Maharashtra, Tamil Nadu, Andhra Pradesh, Telangana, and Karnataka. Girish Tanti mentioned that Rajasthan has vast potential for both wind and solar energy, while Gujarat will continue to be the company’s primary hub for operations moving forward. The firm is also actively pursuing opportunities in Madhya Pradesh, emphasizing the importance of diverse geographic investments in meeting market demands.
Future Targets and Market Share Strategy
The company’s ambitious target for the next 5-6 years, aiming for a wind energy capacity of 100 GW by 2030, underlines its commitment to contributing to India’s renewable energy goals. Suzlon Energy plans to maintain a stable market share of 25-30% within the renewable energy sector, ensuring its significant role in the sustainable energy landscape of the nation.
Suzlon Energy Stock Movement
Turning to financial indicators, Suzlon Energy’s stock closed at ₹82, reflecting a decline of ₹2.70 or 3.19% today. The stock reached a daily high of ₹85.40 and a low of ₹80.57. Over the past year, it has recorded remarkable growth, with a staggering 238.84% increase, and in just three months, it has soared by approximately 57%. The stock has shown a robust return of 1,171.32% over the past three years, indicating a strong resurgence in investor confidence.
Conclusion
As Suzlon Energy continues to implement its strategic initiatives while navigating the evolving landscape of renewable energy in India, its market presence and stock performance serve as a testament to both its operational excellence and the increasing global focus on sustainable energy harnessing. With ongoing investments and clear targets set for the future, Suzlon is well-positioned to remain at the forefront of India’s renewable energy sector.
