Chinese companies have dominated the global wind energy industry so far, but now Suzlon has started competing with them. According to a report by Wood Mackenzie, Suzlon is one of the top 10 companies in the world whose turbine models are in the highest demand. Especially its ‘S144 model’ is in great demand. Interestingly, Suzlon is the only non-Chinese company on this list
Suzlon Renewable Energy Company
The kind of comeback that Suzlon Energy has made in the last few years is rarely seen in the corporate world. This is also clearly evident from its share price. On 26 March 2020, Suzlon Energy shares were available at their all-time low level of Rs 1.51, which has now increased to around Rs 67. Amid the recent volatility in the stock market, the price of Suzlon Energy shares has fallen by about 22 from its 52-week high of Rs 86. However, the company’s business health is still strong and now it is also making its strong presence felt in the global wind energy industry.
Till now, Chinese companies have dominated the global wind energy industry, but now Suzlon has started giving them competition. According to a report by Wood Mackenzie, Suzlon is one of the top 10 companies in the world whose turbine models are in the highest demand. Especially its ‘S144 model’ is in great demand. Interestingly, Suzlon is the only non-Chinese company on this list. The company has already received many orders for its ‘S144 model’ in India itself.
Suzlon continues to grow despite China’s dominance
Chinese companies dominate the global wind energy industry. In the first half of 2024, about 82% of international orders were with Chinese companies. The large number of wind energy projects in China has helped increase these companies’ market share. Despite this, Suzlon has made a special place due to the solid orders received from the Indian market.
The success of the S144 model
Suzlon’s S144 model has become quite popular among clients in the Indian market. It has a capacity of 3.15 MW. Suzlon received its biggest order ever from NTPC Green Energy in September this year. Then in October, Jindal Renewables gave the company several new orders for the same models. All these orders are mainly for S144 turbines. These turbines have been designed to give excellent performance even in low winds. The company currently has an order book of about 5.4 GW, a large part of which is for the S144 model.
Opportunities in the global market
The growing success of the S144 may open up new opportunities for Suzlon to gain a foothold in the global market. The low cost of this model may make it an attractive option in the international market, especially when the demand for new technologies and larger capacity turbines is increasing. However, with Chinese companies selling higher capacity turbines of 5-7 MW, Suzlon will have to maintain investments in its technologies to remain globally competitive.
The share increased by 1,000 percent in 3 years
In the last year, Suzlon’s stock has gained about 115.25 percent. In the last 3 years, its stock has grown by about 1000 percent. Investors’ interest has increased due to the improvement in the company’s financial health and the growing trend of wind energy projects in India.
