JSW Energy gains 1.5% as co inks contract with Senvion India

JSW Energy gains 1.5% as co inks contract with Senvion India


NEW DELHI: Shares of gained 1.5% in early Mumbai trading on Tuesday, as the company said it had inked a contract with Senvion India for purchase of 591 MW of onshore wind turbines.

Senvion India is one of the largest manufacturers of wind turbines in the country and the deal with JSW Energy is to facilitate the latter’s under-construction pipeline of renewable energy projects.

JSW Energy currently has a pipeline of 2.5 GW of renewable energy projects which are under construction.

At 09:35 hours (IST), shares of JSW Energy were up 1.54% at Rs 385 on the National Stock Exchange.

A statement from Senvion said that the project will include its 2.75 MW turbines. According to reports, the delivery of the turbines will commence from the first half of 2022.

Senvion India was recently fully bought over by Saudi Arabia-based Alfanar Group. Senvion’s corporate portfolio includes electrical products, manufacturing and sales and project development.



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