Suzlon targets 10 GW annual renewable energy sales by FY31
Suzlon Energy Limited has announced a strategic transition from a wind original equipment manufacturer (OEM) to an integrated renewable energy company covering wind, solar, and battery energy storage systems (BESS).
Under its “Suzlon 2.0” roadmap, the company aims to scale annual renewable energy sales to 10 GW by FY31, expand its order book to 15 GW, and increase assets under management (AUM) fourfold to 70 GW.
The company is also targeting around 40% market share in the Indian wind sector and export order intake of 3 GW by FY31.
Suzlon stated that its revised strategy is based on four business segments covering technology, project development, engineering, procurement and construction (EPC), and asset management services.
Under the RE Tech vertical, the company will continue focusing on wind energy while expanding into solar and BESS. Suzlon plans to deploy next-generation wind turbines including the S175 with 5 MW capacity and the S163 with 6.3 MW capacity. The company also plans to establish a BESS manufacturing facility by 2027.
Suzlon said its Renewable Energy Development Company (RE DevCo) platform will focus on converting renewable energy potential into execution-ready project sites.
According to the company, RE DevCo is expected to contribute around 60% of overall business volumes under the Suzlon 2.0 strategy.
The company plans to expand its EPC business for integrated wind, solar, and BESS projects. Suzlon also aims to increase its renewable energy AUM to 70 GW through expansion of digital monitoring systems and service operations.
Girish Tanti, Vice Chairman, Suzlon Group, stated that the company aims to expand its renewable energy fleet under management to 70 GW and annual renewable energy sales to 10 GW over the next five years.
Ajay Kapur, Chief Executive Officer, Suzlon Group, stated that the RE DevCo platform is expected to become a major growth driver under the Suzlon 2.0 strategy. He added that the company is targeting a 15 GW renewable energy order book and 3 GW of export order intake by FY31.
The featured photograph is for representation only.
