Suzlon Energy To Generate 728 MW Wind Energy In US This Year (07-Mar-2010)
Suzlon Energy''s subsidiary Suzlon Wind Energy said last week that it plans to generate clean power of 728 MW in US in 2010 through nine wind farms.
In order to produce clean power for 220,000 homes in seven states, the company will install 351 new turbines for the nine wind energy projects to be implemented this year. These projects will also create more than 50 long-term wind turbine maintenance-related jobs in rural areas.
The nine Suzlon projects are located in seven states of Arizona as well as Idaho, Illinois, Kansas, Minnesota, Oregon and Washington.
During the construction and commissioning of the nine wind farms, Suzlon estimates that USD 1.5 million will be contributed by its employees to the local economies where they will live and work.
Suzlon currently has over 1,750 MW of wind turbine capacity installed in US and expects to have 2,480 MW by this year end.
SuZlon Energy Limited (SEL) has bagged a major order from Gujarat State Petronet Ltd. (GSPL) in order to set up, operate and maintain its 52.5 MW wind energy project in the Rajkot and Porbandar districts of Gujarat
The project will be supplied in 35 units of Suzlon''s model SS2 - 1.5 MW wind turbine generators, and is scheduled to be completed and commissioned by July, 2010. .
The power generated from this project will be purchased by Gujarat Urja Vikas Nigam Limited under a long term PPA with GSPL.
Besides this, REpower Systems AG (WKN 617703) - in which Suzlon Energy Limited is majority shareholder - and the French company Akuo Energy SAS have signed three agreements for the Supply of 25 wind Turbines last month.
The REpower MM°2 turbines, each with a hub height of 100 meters and 2.05 megawatts (MW) of rated power arc destined for the three wind farms Fontaine Macon, Sevigny Waleppe and Saint-Gcrmainmont in the Champagne-Ardennes region, in the Northeast of France, Together, the turbines achieve a total generating capacity of 51,25MW.
The stock is currently trading at Rs.81.2, up by 0.93%
The stock hit an intraday high of Rs.82.35 till now, as against the 52-week high of Rs.145.85.The stock hit a low of Rs.80.95 during the day. The stock had hit a 52-week low of Rs.33.05 on March 12, 2009.
The stock opens at Rs.82 at BSE. The total traded volume of the scrip on BSE till now stood at 2320584.
Meanwhile today, the BSE Sensex is trading up by 170.34 points, or 1.00%, at 17164.83 on 9:45 AM.
Meanwhile today, the NSE Nifty is trading up by 44.20 points, or 0.87% , at 5132.9.
Suzlon Energy has an equity capital of Rs 311.35 crore as of 2009 Dec. The face value per share is Rs 2. At the current price of Rs 81.2, the P/E multiple stood at 0 with book Value of 41.73 and P/BV at 1.95.
The total shareholding pattern of the company as on Dec 2009 stood at Promoters- 53.08%, Institutional Investors- 22.37%, General Public- 16.15% and other investors- 8.40%.
Considering the current price of Rs. 81.2 at 9:45:00 AM , the stock had outperformed the market over the past one month till 08/03/2010 surged 10.63% as compared to the Sensex''s return of 7.85% and NSE Nifty''s 7.85 % returns.
Considering the current price of Rs. 81.2 at 9:45:00 AM , the stock had underperformed the market over the past one quarter till 08/03/2010 declined -3.51% as compared to the Sensex''s return of 0.23% and NSE Nifty''s 0.23 % returns.
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