Suzlon Share Price Target 2026: Renewable energy sector giant Suzlon on Friday said it has secured a major order. The company said it has received a repeat order of 195 MW from Sunsure Energy. With this, the total sales for Suzlon’s 3MW platform have reached nearly 9 GW. This milestone reflects strong and sustained market adoption of the Suzlon 3X platform, the company said in a statement.
For the company, this is regarded as not merely a new order, but a significant indicator of the growing confidence in its technology and market standing.
Ahead of the announcement of Q4 FY26 results of Suzlon Energy on Monday, May 25, brokerage firm Ambit Institutional Equities has given a buy rating for the stock with a target price of Rs 60 per share and an upside of 20 per cent.
In a report released on April 17, the brokerage said Suzlon, a leading WTG manufacturer in the noughties, had faced financial distress in 2010-20 due to leveraged acquisitions, debt defaults and weak wind demand. “The turnaround is being driven by asset divestments, deleveraging and renewed R&D focus (notably S144 3MW platform, 160m hybrid towers, etc.),” Ambit Institutional Equities stated.
The brokerage expect – i) sustained 6-8GW annual WTG demand through FY32, led by RE-RTC/FDRE tenders where wind complements solar, ii) installations exceeding 10GW beyond FY32, with wind’s share in generation rising from 6% to 8%/15% by FY32/47, and 3) Suzlon’s market share increasing from 32% (till FY25) to >40% from FY27, supported by turnkey capabilities and reduced Chinese OEM price advantage after ALMM.
“We build EPS CAGR of 15% over FY26-30 and 11% over FY30–35. Suzlon could generate Rs 200bn net cash by FY32, with potential deployment in adjacencies like BESS,” it added.
Suzlon’s orderbook in Karnataka grows stronger
With this order, Suzlon said its orderbook in Karnataka now stands at over 2 GW milestone, marking a key milestone in one of India’s leading wind markets.
Suzlon’s current installed base in Karnataka stands at 1,500MW, contributing to 24 per cent of Suzlon’s installed base in South India.
It further stated, “Suzlon will install 65 state-of-the-art S144 wind turbine generators (WTGs), each rated at a 3.0 MW capacity. It will supply wind turbines, execute the project, including erection and commissioning.”
Suzlon will also undertake comprehensive operations and maintenance services post-commissioning. The project is set to be executed in the Bijapur district of Karnataka.
In addition, Suzlon is also executing other large commercial and industrial (C&I) projects in the state, with a total capacity of 664 MW, it added.
“Additionally, Karnataka has emerged as our largest market by orderbook with over 2 GW orders from our existing orderbook, making it a top priority market for us alongside Gujarat, Tamil Nadu, Rajasthan and Maharashtra. The strong growth is driven by rising demand from the large commercial and industrial (C&I) segment, where wind is increasingly preferred for RTC solutions,” Tanti added.
Shashank Sharma, CEO, Sunsure Energy, said, “The next generation of clean energy infrastructure will not be the one that works when the sun shines or the wind blows – it will be defined by its ability to deliver power when India needs it the most.” Ajay Kapur, Chief Executive Officer, Suzlon Group, said, “We have built close to 300 MW of partnership with Sunsure Energy, driven by our consistent focus on quality, execution, and lifecycle support, which makes us a dependable partner for large and critical projects…”
(Disclaimer: The above article is meant for informational purposes only and should not be considered investment advice. ET NOW DIGITAL advises readers to consult their financial advisors before making any financial decisions.)
