Suzlon Energy Ltd (BSE: 532667, NSE: SUZLON) has retained its leadership position in renewable energy business commissioning 625 MW wind power projects in 2017-18 getting a market share of 35%. The wind power industry went through tougher times in FY18 with installations plummeting to 1766 MW (32% of FY1& installations).
Suzlon’s achievement this fiscal year comes in the backdrop of a paradigm shift in the way wind business is conducted in India, with the advent of competitive bidding. Suzlon’s agility to adapt quickly and efficiently to the changed market dynamics combined with technologically advanced products, project execution capabilities, vertically integrated operations and pan‐India presence helped it emerge victorious with highest installations in FY18.
Apart from this, Suzlon leveraged its over two decades of experience in the domestic market and undertook several measures to overcome the hurdles. Cost optimization across the value chain, introduction of products delivering higher energy yield and rapid execution were some of the steps in this direction.
J.P. Chalasani, Group CEO, Suzlon Group said, “This achievement is a testament to our strong technical and project execution capabilities and over two decades of experience in the Indian market. We have achieved this excellence despite a challenging year for the industry owing to the transition from Feed‐in Tariff (FiT) to the competitive bidding regime.