With A Historic Order Book, Suzlon Picks Pace In Executions

With A Historic Order Book, Suzlon Picks Pace In Executions

Indian wind turbine manufacturer Suzlon Energy is in high spirits, buoyed by its historic order book. The company claims to have executed a significant quantum of orders in the third quarter (Q3) of FY25. In its latest interaction with investors, the top management briefed them on the company’s financial health and future prospects.

JP Chalasani, Chief Executive Officer (CEO) of Suzlon, shared that the company was “overwhelmed” with its “all-time high” order book of over 5.5 GW. He went on to say, “For the very first time in history, we will also enter the new financial year with orders in hand for the entire year. Our focus continues to be on securing high-quality orders for periods beyond FY26 that offer greater value and better margins.”

Ramp-Up in Manufacturing Capacity

To meet the rising demand for wind energy projects, driven by the increasing popularity of hybrid renewable energy projects, Suzlon is ramping up its manufacturing capacity. The company revealed that the majority of its current orders are for the S144 model (3MW series) and the S120 model (2MW series). 92% of its orders are for the S144 model, with the remaining 8% for the S120 model.

Chalasani highlighted the impressive demand for the S144, stating, “The order book for S144 now exceeds 5 GW, a testament to superior technology and strong customer confidence in Suzlon. There is a small quantum of 8% out of the outstanding order book—92% for S144 and 8% for S120. And there is no other model other than these two we are offering in the market.”

Capacity Expansion Plans

The Pune-based company is scaling up its capacity to over 4.5 GW, with upgraded Pondicherry and Nacelle facilities. Additionally, new blade lines in Madhya Pradesh and Rajasthan will further enhance production to meet future demand.

Execution Gains Momentum

Suzlon has also accelerated its execution pace and set new records in the process. “On the execution front, Suzlon has received a record quarterly delivery of 447 MW, marking an outstanding 163% year-on-year growth, up from 170 MW in the same quarter last year. With 977 MW delivered in the 9 months of FY25, we have already surpassed the entire FY24 total of 710 MW, setting a new benchmark for our performance.”

Challenges in India’s Wind Sector

While Suzlon’s performance remains strong, the management acknowledged that the Indian wind energy industry fell short of expectations. The industry commissioned around 2277 MW in the first 9 months of FY25, missing the anticipated targets. Chalasani attributed the shortfall mainly to transmission delays and land-related challenges, adding, “However, we see a sizable number of turbines currently in the pre-commissioning stage, which are expected to be commissioned in a phased manner.” The company expects total wind capacity addition to be between 3.5 to 4 GW this fiscal, before rising to 6 GW and even 8 GW by Fy 27 in a best case scenario. It is pinning its hopes on the shift towards FDRE tenders, which will increase demand for wind energy.

Future Plans: Bigger Wind Turbines on the Horizon

Looking beyond its large S144 wind turbine series, Suzlon is planning to introduce even larger turbines for the Indian wind market. Although the management did not disclose specific plans, Chalasani acknowledged that “the new products will be larger than the S144 series.” However, the company is awaiting an analysis of the success of the S144 series and other parameters before launching new products into the market.