Suzlon Energy Enters Into Agreement To Handle Working Capital With Government Organization

Suzlon Energy
Image Source: Suzlon Energy

The leading supplier of renewable energy solutions in the nation, Suzlon Group, and government-owned REC Limited have a working capital facilities arrangement in place. Suzlon Group will be able to satisfy its existing order book and working capital requirements to fulfill its pipeline of upcoming orders under the terms of the agreement.

The partnership’s goal, according to Suzlon Group on Tuesday, is to improve the business’s capacity to satisfy its working capital requirements. Suzlon Group maintains 14 manufacturing plants in India and boasts a remarkable 20.3 gigawatt (GW) of wind energy capacity across 17 nations.

Suzlon shares, however, continued to fluctuate on Tuesday. The price of the shares dropped by 1% in the first trading session, closing at Rs 37.48. Suzlon shares had already reached their 52-week high of Rs 44 on November 17 of this year.

In only eight months, the stock has provided investors with significant profits. Suzlon has produced returns of over 250 percent so far this year.

REC Limited

Company classification for REC Limited is ‘Maharatna’. The Ministry of Power has administrative authority for this firm. It specializes in offering long-term financial solutions, such as loans to various organizations involved in the nation’s infrastructure.

Suzlon Energy was founded in 1995 by Tulsi Tanti and has since become one of the leading players in the global wind energy market. The company’s primary focus is on designing, manufacturing, installing, and servicing wind turbines. Suzlon provides end-to-end solutions for wind energy projects, including site identification, wind assessment, project development, and operation and maintenance services.

Key points about Suzlon Energy:

Wind Turbine Manufacturing: Suzlon is known for manufacturing a wide range of wind turbines, catering to various project sizes and wind conditions. Their turbines are designed to maximize energy output while minimizing the environmental impact.

Global Presence: The company operates globally and has a significant presence in various countries, contributing to the global expansion of wind energy. Suzlon has installed wind turbines in Asia, Australia, Europe, Africa, and the Americas.

Technological Innovation: Suzlon has been involved in continuous research and development to enhance the efficiency and performance of its wind turbines. Technological innovation is crucial in the renewable energy sector to stay competitive and contribute to the transition to cleaner energy sources.

Challenges: Like many companies in the renewable energy sector, Suzlon has faced challenges, including financial difficulties and debt restructuring. As of my last update, the company has undergone various restructuring processes to address these issues and continue its operations.

Environmental Impact: Suzlon’s focus on wind energy aligns with global efforts to reduce reliance on fossil fuels and combat climate change. Wind power is considered a clean and sustainable energy source with minimal greenhouse gas emissions during electricity generation.

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