By Mya Finn
Climate change has pushed nations towards renewable energy, and India is no exception. At COP28, global leaders committed to “Tripling Global Renewable Energy Capacity by 2030” to decarbonize 90% of the power sector by 2050. With its ambitious renewable targets, India ranks as the fourth-largest producer of wind energy, offering one of the most cost-effective sources globally.
Suzlon, a cornerstone in India’s renewable energy journey, is crucial in this transformation, contributing advanced wind energy solutions. As India aims to achieve 500 GW of renewable energy by 2030, companies like Suzlon will provide expertise and innovative technologies to meet these ambitious goals.
Investors are increasingly following Suzlon share price for insights into this sector’s growth, using tools like stock screeners to track companies poised to benefit from India’s renewable revolution.
India’s energy transition aligns with its need for domestic energy independence. Suzlon is positioned to help lead the way, reinforcing India’s role in renewable energy production while supporting global climate goals. And how exactly is it leading the transition? Let’s understand.
Company Overview:
Suzlon Group is a global leader in renewable energy solutions, transforming how sustainable energy is harnessed. Over the last 20 years, it has installed around 20.9 GW of wind energy in 17 countries across six continents. Suzlon’s reach spans Asia, Australia, Europe, Africa, and the Americas, all powered by its expertise in renewable energy systems.
In India, Suzlon leads the market with 111+ wind farms and an impressive installed capacity of over 14,950 MW. It has developed some of Asia’s largest onshore wind farms across nine states, including Gujarat, Rajasthan, Maharashtra, and Tamil Nadu. With 33% of India’s cumulative wind energy installations, Suzlon’s 20 GW of wind power is enough to supply green energy to over 1.3 crore Indian households.
Suzlon also pioneered the ‘Concept to Commissioning’ model in wind energy, simplifying and optimizing renewable energy solutions for customers. By focusing on affordability and accessibility, it aims to make clean energy an easy choice for both private and public sectors.
Suzlon’s Core Focus:
Suzlon’s mission revolves around delivering efficient and reliable renewable energy options, aiming to reduce global reliance on fossil fuels through advanced wind energy technologies. Keeping this aim at the center, the company has built the following core competencies-
- Wind Energy Solutions:
Suzlon focuses on designing, manufacturing, and installing wind turbines. Its products, adapted for diverse wind conditions, are efficient and dependable, making them ideal for both onshore and offshore wind projects.
- Research and Development (R&D):
Innovation is key to Suzlon’s progress. It invests in R&D to enhance turbine efficiency, cut energy costs, and boost product reliability. Suzlon also explores hybrid solutions, integrating wind, solar, and storage technologies.
- Operations and Maintenance (O&M):
Suzlon offers extensive O&M services, managing over 13.5 GW of wind assets. This includes remote monitoring, predictive maintenance, and lifecycle management, ensuring assets remain high-performing and durable.
- Sustainability and Community Engagement:
Suzlon prioritizes sustainability in its operations, using renewable energy in its manufacturing and engaging communities near its sites through education, healthcare, and livelihood initiatives.
- Offshore Wind Expansion:
Recognizing offshore wind’s potential, Suzlon is pursuing opportunities in this sector. Its onshore experience supports its strategic shift toward offshore projects as demand grows.
How Suzlon Contributes to India’s Renewable Energy Sector:
India’s total wind power capacity, as of 2023, stands at over 42 GW, and Suzlon has contributed around 30% to this capacity. Suzlon’s commitment to R&D has resulted in various advanced wind turbine models tailored to India’s diverse geography.
From the towering S128 and S133 turbines, which are suited to low wind speed areas, to smaller models designed for hillier regions, Suzlon has consistently adapted to India’s varied landscapes. Some of the latest projects and partnerships that have fueled the company’s contribution further are as follows-
- Gujarat’s Massive Wind Farms:
Suzlon has established several large wind farms in Gujarat, with one of its biggest projects delivering over 1 GW of capacity. The Gujarat wind projects alone power nearly 1 million households annually.
- Maharashtra Wind Project:
Suzlon’s wind energy installations in Maharashtra have bolstered the state’s renewable energy capacity and reduced its reliance on coal-fired power. The project is estimated to prevent over 2 million tons of CO₂ emissions yearly.
- Government Collaboration:
Suzlon also collaborates with the Indian government and global agencies to promote large-scale, grid-connected wind power projects, critical to meeting India’s 500 GW renewable energy goal by 2030.
- Partnership with Jindal Renewables:
Suzlon Group is advancing decarbonization in hard-to-abate sectors with a significant 400 MW wind energy order from JSP Green Wind 1 Pvt. Ltd., an SPV of Jindal Renewables Power Private Limited.
It will provide 127 advanced wind turbine generators (WTGs) with Hybrid Lattice Tubular (HLT) towers, each rated at 3.15 MW, for installation in Karnataka’s Koppal region. The power generated will support captive consumption for steel plants in Chhattisgarh and Odisha, enhancing their sustainability and aligning with India’s green energy objectives.
Future Prospects: The Road Ahead for Suzlon
Suzlon is positioning itself as a major player in India’s net-zero journey. As India scales its renewable energy capacity, Suzlon can leverage its expertise and infrastructure to lead this change. Here are some growth prospects for Suzlon:
- Offshore Wind Projects:
India is exploring offshore wind energy potential, particularly along the Gujarat and Tamil Nadu coasts. Suzlon is well-suited to participate in these projects, which could unlock 30 GW of offshore wind potential by 2030.
- Hybrid Renewable Projects:
With India’s focus on hybrid projects, Suzlon’s expertise in wind and solar power will enable it to contribute effectively to integrated energy solutions, particularly in rural areas with less stable energy supplies.
Bottomline:
Suzlon’s contributions to India’s renewable energy transition are undeniable, making it a cornerstone in the country’s wind energy sector. By addressing the unique challenges of India’s diverse landscapes and pushing the boundaries of wind technology, Suzlon has become a critical partner in India’s journey towards sustainable energy.
With a growing focus on green infrastructure, improved financing, and government support for renewable energy, Suzlon is well-poised to expand its role. As India targets 500 GW of renewable energy by 2030, Suzlon will remain a key player, helping India reduce its carbon footprint, create green jobs, and become a global leader in sustainable energy solutions.
