Suzlon Secures 201.6 MW DevCo Wind Order from Waaree Group for Andhra Pradesh Project

Suzlon Secures 201.6 MW DevCo Wind Order from Waaree Group for Andhra Pradesh Project​

Suzlon Energy Limited has secured a significant renewable energy contract, awarded by Waaree Forever Energies Private Limited (WFEPL), the Independent Power Producer (IPP) arm of Waaree Group. The order is for a 201.6 MW wind project in Andhra Pradesh and marks a milestone under the Suzlon DevCo model, signaling the growing industry shift toward developing integrated energy solutions.

The contract involves Suzlon providing comprehensive EPC services for the renewable venture. Under the agreement, Suzlon will install 64 units of its flagship S144 wind turbine generators (WTGs), each rated at 3.15 MW. The scope of work delivered by Suzlon is end-to-end, covering land acquisition, turbine supply, Balance of Plant (BoP), commissioning, and lifetime operations and maintenance services.

This order represents the second consecutive DevCo led EPC contract secured by Suzlon within one week. Suzlon’s orderbook in Andhra Pradesh currently stands close to 1 GW following this project.

The partnership underscores the trend towards end-to-end execution models like DevCo, which are emerging as preferred methods across the industry. These models are utilized to enable faster execution, reduce development risks, and achieve greater scalability for large and complex renewable energy projects.

Industry Partnership and Strategy​

Girish Tanti, Vice Chairman of Suzlon Group, highlighted the strategic importance of this partnership. He noted that it unites two companies whose growth reflects the evolution of India’s renewable energy sector. "Waaree and Suzlon have been trailblazers in solar and wind respectively," Tanti stated. He added that this collaboration exemplifies the industry's future, where customers seek integrated solutions rather than standalone technologies, and the DevCo business model is rapidly gaining momentum.

Ajay Kapur, Chief Executive Officer of Suzlon Group, emphasized the growing demand for comprehensive partners. "We thank Waaree Group for entrusting us with their maiden wind project," Kapur said. He added that this second consecutive DevCo led order reinforces the need for partners who can de-risk execution and deliver at scale, making integrated project development and EPC capabilities a key differentiator in the evolving market.

Pawan Agrawal, CEO of Waaree Forever Energies Private Limited, stated that through WFEPL, the company is building a diversified renewable portfolio beyond solar to meet India's growing energy needs. He described the 201.6 MW wind project as an important milestone, looking forward to a long-term partnership that strengthens the renewable energy ecosystem in India.

Company Overviews​

Suzlon Group
Suzlon operates as a wind first full stack renewable energy solutions conglomerate with businesses spanning RE Technology (Wind+Solar+Storage), RE Development Company, RE Projects and RE Asset Management. The company reported revenues of USD 1.75+ billion for FY26 and has a market capitalization of USD 7.5+ billion as of June 1, 2026. Suzlon has installed approximately 21.7 GW of wind energy capacity across 17 countries.

Waaree Energies
Founded in 1990, Waaree Energies Limited is described as India's leading renewable energy company. The company operates advanced manufacturing facilities with a total solar PV module capacity of ~22.77 GW worldwide. Waaree offers a comprehensive portfolio that includes EPC services, green hydrogen solutions, battery energy storage systems, and green energy infrastructure.

SUZLON Stock Price Movement​

Shares of Suzlon Energy Limited are edging higher to ₹53.07 as of 10:52 AM, gaining 0.11% in live trading. The stock traded with a volume of 12.4 million shares, continuing its upward trend.