Suzlon Group, a producer of renewable energy solutions, declared on Monday that it has reached the landmark of 20 GW of installed wind turbine capacity worldwide.”Suzlon Group has crossed the 20GW wind energy installations milestone through 12,467 wind turbines installed across 17 countries, spanning six continents,” according to a statement from the firm. This solidified Suzlon’s position as a significant participant in the global wind energy landscape.
Since 1995, Suzlon has been developing the Indian wind energy industry in accordance with the late Chairman and much-celebrated creator Tulsi Tanti’s vision.” Crossing the 20GW mark is a testament to Suzlon’s dedication and expertise in the renewable energy industry,” said Suzlon Group Vice Chairman Girish Tanti. Suzlon’s 20 GW is a story of bringing India to the world, with 5.9 GW of Indian wind turbines deployed all around the world.
Suzlon Energy, a provider of renewable energy solutions, posted a combined net profit of 320 crore for the quarter ending in March 2023. In the three months ending in March 22 the company reported a loss of Rs 203 crore. Suzlon announced that its revenue fell by 30% year over year (y-o-y) to Rs 1,690 crore. The company was able to turn a profit during the quarter thanks to a 35% year-over-year drop in expenses, which came to Rs 1,628.19..
The Suzlon Group’s balance sheet was stronger and leaner as a consequence of a net debt reduction to Rs 1,180 crores, with the successful rights issuance in FY23 playing a vital role, according to Himanshu Mody, CFP, Suzlon Group. The quarter ending on March 22 saw a net debt of Rs 5,796 crore. On an annual basis, net finance expenses decreased by 44%. “Our consolidated FY23 PAT before exceptional items of Rs 167 crore is the highest reported by the company in six years and we turned net worth positive after a decade,” added Mody.
