Suzlon Hopeful of Record Wind Capacity Additions In India In FY25

Suzlon Reports 96% Surge In Net Profits In Q2 

Indian wind energy company Suzlon is hopeful of a record wind energy capacity additions by the sector in the country in 2024-25. The company also sees an increasing trend of annual capacity additions in the next few years. The anticipation of the firm is based on the record number of tenders issued in the country, new conductive polices, entry of new players and the subsequent wind energy projects in the pipeline.

“This year, we are expecting anywhere between 5 to 5.5 GW is what the country will do compared to the 3,250 MW that we did last financial year. And our expectation is that this in FY’26 would go up to anywhere close to 6.5 to 7 GW. And thereafter from FY’28 onwards, we expect it to be anywhere between 8 to 9 GW,” JP Chalasani, Group CEO of Suzlon Energy told his investors in the latest investors’ call.

The top management of the company in its latest investors’ call talked about the likely future of the Indian wind energy sector against this background. The Maharashtra-based company currently has around 4 GW of wind turbine manufacturing capacity and has a total market share of around 32 percent in the cumulative installed capacity of wind energy in India. India’s total installed wind energy capacity now stands at around 46 GW.

“Bidding is huge. I think we lost count of the bidding. In fact, there is a huge amount of bidding completed, projects awarded where they’re now chasing, with one waiting for the PSA….in the month of June for different awards put together, there’re about 3.7 GW awarded for it just in one month of June. And today there is about 7.5 GW of the bids submitted, and another 13 GW of bids called for. Targeting about the bids awarded and pending for execution, which is close to 20 GW, and we already have another 4 GW awarded in the month of June, another 20 GW bids either submitted or called for. This is all in addition to the C&I,” Chalasani said.

He also added, “Why we are saying this also is the reason is that one is gradually we hope these hurdles on the ground will get removed, because more and more capable people are coming in and then there are some advanced actions being taken on the land and also the Government of India as we mentioned last time has now started acting on removing the hurdles for wind,”

Good days for Suzlon

The Pune-based company is now overwhelmed with a mammoth order book of 3.8 GW (as on June 2024) which it claims to be the largest ever order book in the history of Suzlon. The company made deliveries of capacities around 274 MW in Q1FY25 which was around twice the capacities it delivered in Q1FY24 (which was around 135 MW).

Suzlon is now also charged with participation in a NTPC bid and hopeful to participate in other tenders too for equipment supply. Earlier, it could not participate in such tenders due to non-fulfillment of the financial requirements of these tenders.

The management of the firm in their presentation told the investors that the latest Q1 was one of the best quarters in seven years
wherein the company outperformed across the various performance parameters.