Shares of Suzlon Energy moved higher on Wednesday after the company announced a 248.85 megawatt (MW) wind energy order from the ArcelorMittal Group, marking its first project with the global steel major in India.
Suzlon disclosed the development in an exchange filing, saying the order was awarded through ArcelorMittal’s renewable energy arm in India. The project will be executed in the Bachau region of Gujarat and will support captive power requirements for steel manufacturing operations.
Following the announcement, Suzlon Energy shares were trading about 3.2% higher at ₹47.23. Despite the recent gain, the stock remains nearly 50% below its 52-week high.
Details of the ArcelorMittal project
Under the order, Suzlon will supply 79 S144 wind turbine generators (WTGs), each with a rated capacity of 3.15 MW. The total capacity of the wind project stands at 248.85 MW.
The wind order is part of a larger 550 MW hybrid renewable energy project being developed in Gujarat. Suzlon has secured the wind component of the project, which will be used for captive consumption by ArcelorMittal Nippon Steel India facilities.
Suzlon said the project strengthens its presence in Gujarat, where its overall installed capacity base has now increased to around 4.5 gigawatts (GW).
Focus on green steel and decarbonisation
The company highlighted that this is its fourth order linked to “green steel” initiatives in the past one year. Steel manufacturing is among the most energy-intensive industrial processes, and large producers are increasingly turning to renewable energy to reduce carbon emissions and manage long-term power costs.
Commenting on the development, Suzlon Group Vice Chairman Girish Tanti said steel plays a critical role in India’s infrastructure growth but also faces pressure to decarbonise. He noted that renewable energy is now emerging as a practical and competitive solution for the sector as it moves towards cleaner production methods.
The order reflects a broader trend of industrial groups tying up directly with renewable energy developers to secure long-term, low-cost green power for captive use.
EPC business to gain more weight
Suzlon Group Chief Executive Officer JP Chalasani said the company plans to steadily increase the contribution of its engineering, procurement and construction (EPC) business. According to him, Suzlon is targeting EPC to account for up to 50% of its overall order book over time.
He added that future order wins are expected to see a growing share of EPC-led projects, which typically offer better visibility and execution control compared with pure equipment supply contracts.
The ArcelorMittal order includes supply of wind turbines and project execution, aligning with Suzlon’s strategy to deepen its EPC footprint.
Why the order matters
For Suzlon, the deal is significant on multiple fronts. It brings in a new global client, strengthens its position in Gujarat—one of India’s largest renewable energy hubs—and adds momentum to its green industrial energy portfolio.
From a sector perspective, the order underlines rising demand for renewable energy from heavy industries such as steel, cement and metals, as companies respond to emission targets and energy cost pressures.
While the stock has seen a sharp correction from recent highs, analysts say steady order inflows and execution performance will remain key triggers for Suzlon’s market performance going forward.