April 16, 2018
Suzlon Retains Market Leadership amidst Industry Transition
- Commissions 626 MW* in FY18, highest wind installations by an OEM
- Suzlon has built 1/3rd of Nations wind energy capacity with ~11,900 MW cumulative installations, thus remaining No. 1 in India
- Suzlon best positioned to capitalize on the upcoming ~10,000-12,000 MW annual volumes
- 2nd largest operations and maintenance company (over 8,000 turbines) in Indian power sector
Pune, India: Suzlon Group, Indias largest renewable energy solutions provider today announced that it has commissioned 626 MW of wind power projects in the financial year 2017-18 (FY18), the highest installations by any player during this fiscal. With this, Suzlon has gained a market share of 35 % despite an extremely challenging year for the sector and several hurdles due to the transition from Feed-in- Tariff (FiT) to bidding regime. As a result, the overall wind industry installations plummeted to 1,766 MW in FY18 (32% of FY17 installations) due to stagnant volumes, uncertainty on PPAs and policy environment.
Suzlons 23 years of leadership in Indian wind market
- From total Indian wind market installation of~34,046 MW till date, Suzlons cumulative installed wind capacity is ~11, 922 MW making it undisputed market leader!
- Suzlons competitors even today have a cumulative installed capacity base less than half of Suzlon
- Suzlon has stayed near the top of the annual commissioning leaderboard throughout its 23 years of history with its excellence in technology and end to end business offering
- Suzlon has the 2nd largest operations & maintenance capacity in the country
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. We thank our team, 1,800+ customers, lenders, and vendor partners for their unwavering support. FY19 would be the start of a high volumes market with central and state-level auctions in India. The sector will witness exponential growth with ~10-12 GW volumes each year. There is a clear visibility of volumes even before the start of FY19. Suzlon is well positioned to reap the benefits in this new business regime with its end-to-end solutions, continuous investment in India specific wind turbine technology, vertically integrated operations and best in class services. Technological innovations will continue to be the bedrock of our growth."
*Commissioning is not reflective of the sales/revenue recognition, which will be declared during Q4 FY18 results
About Suzlon Group:
Suzlon group is one of the leading renewable energy solutions provider in the world with an international presence across 18 countries in Asia, Australia, Europe, Africa and Americas. Headquartered at Suzlon One Earth in Pune, India; the group is comprised of Suzlon Energy Limited (NSE & BSE: SUZLON) and its subsidiaries. A vertically integrated organization, with over two decades of operational track record, the group has a cumulative installation of over 17.5 GW of wind energy capacity, over 7,600 employees with diverse nationalities and world-class manufacturing facilities. Suzlon is the only Indian wind energy company with a large in-house Research and Development (R&D) set-up in Germany, the Netherlands, Denmark and India. Over 11.9 GW of the groups installation is in India, which makes up for ~35% of the countrys wind installations, making Suzlon the largest player in this sector. The group is the custodian of over 14 GW of wind assets under service globally. The company has also forayed into the solar space.