As part of the strategy, Suzlon plans to quadruple its annual renewable energy sales to 10 GW by FY31, expand its order book to 15 GW from the current 5.7 GW, and increase its renewable energy assets under management (AUM) to 70 GW from current levels.
The company is also targeting a 40% share of India’s wind energy market and plans to secure 3 GW of export orders by FY31, with Europe and Australia identified as key international growth markets.
Suzlon said the next phase of growth will be driven by a new business structure comprising renewable energy technology solutions, renewable energy development, project execution and asset management services.
The company expects its RE DevCo business to emerge as the primary growth engine, contributing nearly 60% of total volumes over the next five years.
The company is broadening its focus beyond wind energy and plans to offer integrated solutions spanning wind, solar, battery energy storage systems (BESS) and energy management services under a single platform.
In the solar segment, Suzlon intends to follow an asset-light approach through partnerships, while in battery storage it plans to establish a manufacturing facility by 2027. The company believes battery storage will play a critical role in improving grid reliability and addressing the intermittency challenges associated with renewable power generation.
Suzlon is also expanding its engineering, procurement and construction (EPC) capabilities to execute integrated wind, solar and storage projects, aiming to improve project delivery timelines and execution certainty.
Wind energy, however, will remain the cornerstone of Suzlon’s growth strategy. The company plans to maintain its leadership position in the domestic market through its next-generation turbine platform, including the S175 (5 MW) and S163 (6.3 MW) models, while pursuing export opportunities.
Alongside project development, Suzlon is building a larger annuity-style business through asset management services. The company plans to expand operations across wind, solar, hybrid and multi-brand renewable assets, leveraging digital tools and its nationwide service network to optimise asset performance throughout their lifecycle.
Vice Chairman Girish Tanti said the company is positioning itself to benefit from the global electrification cycle by offering reliable, affordable and integrated renewable energy solutions.
CEO Ajay Kapur added that the RE DevCo platform is expected to accelerate project readiness and reduce time-to-market, helping the company achieve its FY31 targets of a 15 GW order book and 3 GW of export order intake.
