Buzzing stock: Suzlon Energy collaborates with Alfanar Group of Saudi Arabia

Suzlon Energy has bagged an order of 50.40 MW wind power project from Riyadh based Alfanar Group. 

The order is for 24 units of S111-90m wind turbine generator, each with a rated capacity of 2.1 MW. It is estimated to be completed by March 2018.

This project has the potential to provide power to 27,000 households and could reduce 0.10 million tonnes of CO2 emissions per annum. The S11x 2.1 MW platform works on Doubly Fed Induction Generator (DFIG) technology to optimally use the available wind resources. 

Alfanar group has allocated resources to set-up 2.2 GWs of renewable energy projects in the next five years for wind, solar and biomass in India and South Africa. It is an EPC contractor having business of construction and manufacturing of electric equipments and high voltage transmission projects.

The stock price surged today by 3.9 percent to the intra-day high of Rs 19.70 from its previous closing of Rs 18.95. 

Suzlon Energy Ltd. as a renewable energy solutions provider with international presence across Asia, Australia, Europe, Africa and North & South America. It has cumulative installation wind energy capacity of 17 GW.