Wind turbine manufacturer Suzlon Energy launched the Suzlon 2.0 initiative, transforming the company from a wind energy equipment and solutions provider into a full-stack renewable energy company. This new direction includes offering wind, solar, and battery energy storage solutions (BESS) as a comprehensive package, along with energy management services.
Suzlon has set ambitious growth targets for the fiscal year 2031, aiming to increase its annual renewable energy sales fourfold to 10 GW, expand its order book to 15 GW, and grow its Assets Under Management (AUM) to 70 GW.
The company is also re-entering the global market, targeting 3 GW in export orders by FY31, supported by its next-generation high-capacity 5 MW and 6.3 MW wind turbines.
Girish Tanti, vice chairman of Suzlon, said that wind energy will continue to be the company’s core growth driver, as it remains the most cost-effective energy source capable of meeting peak demand in the morning and evening. While Suzlon plans to offer its own BESS solutions, it will adopt an asset-light model for its solar energy projects, collaborating with partners instead. Tanti highlighted the company’s strong balance sheet and cash flow, which will support this transition.
This initiative marks Suzlon’s entry into the BESS sector, aimed at making renewable energy more reliable, dispatchable, and ready for the grid. The company plans to establish a BESS manufacturing facility by 2027, focusing on developing intelligent storage solutions designed for Indian grid conditions.
Suzlon is positioning itself as a Firm and Dispatchable Renewable Energy (FDRE) player by combining wind and solar energy with battery storage to address power intermittency issues. “Most of our sites can be converted into FDRE parks,” Tanti noted, adding that Suzlon will not undertake standalone solar or BESS projects.
Suzlon’s RE DevCo is India’s first and only integrated co-development platform that turns renewable potential into execution-ready sites at scale. This model is designed to alleviate customer challenges, particularly those related to project execution on the ground.
Utilising its expertise in land acquisition, permits, and regulatory matters, Suzlon will initially develop projects and then transfer them to customers in years three and four. The company will invest the seed and working capital necessary to bring projects to a stage suitable for handover to customers.
Additionally, the Suzlon Group introduced its new identity and brand promise: “Good Energies That Work.” Dharini Mishra, chief brand and reputation officer of the Suzlon Group, stated, “The world no longer needs just more clean energy—it needs clean energy that works.” A marketing campaign will be launched across digital, social media, outdoor, print, film, and stakeholder engagement platforms in the coming months.
Speaking on the recent SEBI Rs 29 crore penalty order, the company said it will challenge the order and is in the process of filing it. They have a 45-day window for this.