Suzlon installs 1,779 MW in FY17

Renewable energy company Suzlon has recorded an all-time high commissioning, by installing 1,779 MW in FY17 taking its cumulative installations to over 11 GW in India and over 17 GW worldwide.

The company’s order book as on March 31, 2017 stood at 670 MW. The order intake during Q1 FY 18 so far is 411 MW and an additional order of 250 MW from its customers in the SECI bidding. These orders have been received from IPP customers and retail for S111 90m and S111 120m. Further the company is carrying an order book of 231 MW in solar, taking its total order book to 1,562 MW. These orders will be commissioned in FY18.

The company reported a revenue of Rs 12,693 crores for FY17 against Rs 9,430 crores in FY16, registering a 35 per cent growth year-on-year whereas for Q4 FY17 its revenues stood at Rs 4,993 crores against Rs 3,219 crores in Q4 FY16.

On the outlook, the company said, wind energy in India delivered its highest installation of 5,502 MW in FY17 registering 61 per cent growth over 3,415 MW in FY16. An estimated Rs 40,000 crores ($6.2 billion) of total investment had been made in wind manufacturing in the country. In FY17, the country added 15.3 GW in the renewable energy while conventional power increased 7.6 GW.

India’s commitment at COP21 to achieve 40 per cent energy through non-fossil sources by 2030 will continue to fuel demand for clean energy. There is strong intent of the government and supportive policy actions to enhance the role of renewables in India’s energy security. In the next six years, wind energy is expected to grow at 6 GW per annum to achieve the targets.