&w=3840&q=100)
Tata Power, Suzlon sign ₹6,000 cr deal for 700 MW wind project in Andhra
This is the first wind power project to be implemented in Andhra Pradesh since 2019. The 7 GW of renewable energy — including solar, wind, and hybrid projects, with or without storage solutions — is expected to attract investments of around ₹49,000 crore, making it one of the largest renewable energy investments in the state.
'Turbines will be S144 Suzlon wind turbine generators and will be compliant with the Government of India's newly enhanced Revised List of Models and Manufacturers (RLMM) guidelines on domestic content. Turbines will be made in Andhra Pradesh in Suzlon's factory there, which has been revamped and re-commenced production since 2024,' the source said.
The Ministry of New and Renewable Energy (MNRE) recently revised its RLMM guidelines, making local sourcing mandatory for critical components such as blades, gearboxes, generators, and towers. 'The project will be developed in the Anantapur district of Andhra Pradesh, will be connected to the central grid, and will generate 1,840 million units per year,' the source added.
The proposed capacities will be set up under Andhra Pradesh's Integrated Clean Energy (ICE) Policy, a clean energy framework that aims for the state to develop over 160 GW of renewable energy with an investment potential of ₹10 trillion.
As part of the agreement signed in March with the state, TPREL will conduct preliminary assessments, feasibility studies, and development activities to explore the viability of these projects. The New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) will provide requisite support in facilitation, site identification, and evacuation infrastructure. This initiative is expected to significantly enhance Andhra Pradesh's renewable energy capacity while reinforcing TPREL's commitment to India's clean energy mission.
Driven by the ICE Policy launched by the Nara Chandrababu Naidu government in October 2024 — which fast-tracked clearances and lined up fresh incentives — the state secured a considerable share of the country's renewable energy investments last year.
In renewables, major committed investments other than Tata Power include projects by NTPC Green (₹2.08 trillion), Vedanta's Serentica (₹50,000 crore), SAEL Industries (₹6,000 crore), and Brookfield (₹50,000 crore), among others.
Green energy major ReNew Power is also set to establish a ₹22,000-crore renewable project at Anantapur in Andhra Pradesh, which will be the largest renewable energy complex in India. The complex will generate around 2.5 GW of renewable power and have a battery energy storage system (BESS) of 1 gigawatt hour (GWh), in two phases.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
3 hours ago
- Indian Express
Tata Power launches ‘Ghar Ghar Solar' in Pune
Tata Power Renewables, one of the country's top renewable energy players and a subsidiary of Tata Power, on Wednesday launched its flagship 'Ghar Ghar Solar' campaign in Pune. A special scheme 'Own a Rooftop Solar System' was also introduced ahead of Independence Day. The firm is actively involved in promoting solar energy adoption through the 'Ghar Ghar Solar' campaign that is also aligned with the PM Surya Ghar Yojana. Dr Praveer Sinha, CEO and MD, Tata Power Company Ltd, who was in Pune at the launch event, said by the year-end the aim is to ensure at least six lakh rooftop installations pan-India. Sinha spoke about the initiative with a special focus on Maharashtra. 'In Maharashtra, we are targeting to install 800-MW rooftop solar capacity over the next three years,' he said. As of July 2025, Tata Power Solaroof has achieved a cumulative installed rooftop solar capacity of 775 MWp (megawatt peak) in Maharashtra catering to 27,910 customers. In Pune, where the company already has a presence with 200-MW installed capacity, plans are underway to add a further 250 MW in the next three years. Announcing the key highlights of the new scheme, officials said it entails paying Rs 1,947 and owning the rooftop system, symbolic of the year of India's Independence. Elaborating, Sanjay Banga, CEO and MD of Tata Power Renewable Energy Ltd (TPREL), said it includes almost 100 per cent of system cost available as load, affordable EMIs, flexible financing tenures up to 60 months and complimentary one-year solar insurance for residential customers. 'This initiative aims to accelerate the adoption of residential rooftop solar by offering high-quality, affordable, and easily accessible solar energy solutions backed by trusted service,' he added. Tata Power Company has expressed strong interest in obtaining a distribution licence for Pune city and adjoining Haveli, Maval, Mulshi, and Khed. 'We have submitted our application to the Maharashtra Electricity Regulatory Commission for a licence to distribute electricity in Pune and adjoining areas. Yes, we are very much here,' Dr Praveer Sinha, CEO and MD, Tata Power Company Ltd said on Wednesday. 'MERC is reviewing our application and as per the process, a public hearing will be held,' Sinha said.
News18
10 hours ago
- News18
Suzlon Energy Price Target Raised To Rs 80 Despite 4% Dip — What Should Investors Do?
Last Updated: Suzlon Energy's share price dropped over 4% in Wednesday's trade, but most brokerages maintained a positive outlook; Should you invest? Suzlon Energy's share price dropped over 4% in Wednesday's trade, but most brokerages maintained a positive outlook, lifting price targets to as high as Rs 80. Analysts cited record first-quarter deliveries, robust order inflows, and a strong domestic demand environment as reasons for their optimism. Motilal Oswal, ICICI Securities, and JM Financial reiterated 'Buy' ratings, pointing to the company's execution momentum, 60% annual growth guidance, and competitive advantage in the home market. Nuvama Institutional Equities, however, retained a 'Hold' rating, citing margin pressures and leadership changes. Motilal Oswal reaffirmed its ₹80 target, implying a 27% upside from the last closing price of Rs 63, after Suzlon reported Q1FY26 results broadly in line with estimates. The brokerage highlighted 'strong execution at 444MW," up 62% year-on-year, and a healthy 19% EBITDA margin. ICICI Securities maintained a Rs 76 target, noting Suzlon's 'highest-ever Q1 execution" and a growing 5.7GW order book—around 3.7 times FY25 execution levels. JM Financial, with a ₹78 target, credited operating leverage for improved margins in the wind turbine generator (WTG) segment, though it flagged a gap between deliveries and installations. Nuvama Institutional Equities trimmed its target to Rs 67 despite acknowledging Q1 execution beat estimates. The brokerage pointed to a weaker EPC mix affecting realisations and flagged the August 31 resignation of CFO Himanshu Mody—credited with playing a key role in Suzlon's turnaround—as a near-term concern. Strong Q1 Performance For the June quarter, Suzlon posted a consolidated net profit of Rs 324 crore, up 7% year-on-year, on revenue of Rs 3,117 crore—a 55% jump driven by higher wind turbine generator volumes. EBITDA rose 62% to Rs 599 crore, with margins improving to 19.2%. The company's order book grew for the 10th consecutive quarter, bolstered by 1GW in fresh orders. Brokerages expect Suzlon to benefit from India's target of 122GW wind capacity by FY32, with the commercial and industrial (C&I) segment alone requiring 78GW by FY30. Management has maintained its FY26 guidance of 60% growth across deliveries, revenue, and EBITDA. While land acquisition and grid connectivity remain execution challenges, most analysts see Suzlon's expanding order book, regulatory support, and cost efficiencies sustaining earnings momentum. Nuvama, however, sees limited upside without a stronger EPC mix. view comments First Published: News business » markets Suzlon Energy Price Target Raised To Rs 80 Despite 4% Dip — What Should Investors Do? Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
12 hours ago
- News18
Suzlon Energy Shares Fall 4% After Q1 Results; Why Is Stock Falling?
Last Updated: Suzlon Energy shares fell 4 percent after Q1 FY26 results and CFO resignation. Net profit rose 7.3 percent to Rs 324.32 crore, revenue surged 55 percent to Rs 3,132 crore. Suzlon Share Price: Suzlon Energy shares slipped up to 4 percent in early trade on Wednesday after the company announced its June quarter results and the resignation of its chief financial officer. For Q1 FY26, the wind turbine maker posted a 7.3 percent year-on-year rise in consolidated net profit to Rs 324.32 crore, compared with Rs 302.29 crore in the year-ago period. Revenue from operations surged 55 percent to Rs 3,132 crore from Rs 2,021 crore a year earlier. EBITDA grew 62.4 percent to Rs 598.2 crore from Rs 368.3 crore, while margins improved to 19.1 percent from 18.2 percent. According to Business Today, global brokerage Nuvama said the results, driven by execution of 444 MW, were slightly below expectations, with revenue coming in 6 percent lower than estimated due to softer realisations from a reduced EPC mix. It lowered its target price to Rs 67 from Rs 68. Meanwhile, Investec maintained its 'buy' rating with a target price of Rs 70, highlighting strong execution, a record-high order book, net cash position and robust return ratios. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. view comments First Published: August 13, 2025, 13:14 IST News business » markets Suzlon Energy Shares Fall 4% After Q1 Results; Why Is Stock Falling? Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
