Suzlon Energy Limited has secured a significant new order for a 201.6 MW wind power project with Waaree Forever Energies Private Limited (WFEPL), the Independent Power Producer arm of Waaree Group. According to reports from CNBC TV18, this marks Waaree's first entry into the wind energy space and represents Suzlon's second consecutive Development Company (DevCo)-led EPC win within a single week. The project will be developed under Suzlon's DevCo model, designed to streamline execution, minimize development risk, and improve scalability for large, complex renewable energy projects. As per Girish Tanti, Vice Chairman of Suzlon Group, this partnership is strategically important as it unites two companies whose growth has mirrored the evolution of India's renewable energy sector, with both Waaree and Suzlon having been trailblazers in solar and wind respectively.
Under the terms of the agreement, Suzlon will supply and install 64 units of its flagship S144 wind turbine generators, each rated at 3.15 MW, at a site in Andhra Pradesh. As reported by CNBC TV18, Suzlon's scope covers its full EPC offering, including land acquisition, turbine supply, Balance of Plant (BoP) works, commissioning, and lifetime operations and maintenance services. This comprehensive approach allows the company to manage every stage of the project from land acquisition to long-term operations, addressing the growing preference among developers for integrated, end-to-end project execution models. According to Ajay Kapur, CEO of Suzlon Group, this is their second consecutive DevCo-led EPC order within a week, which reinforces growing demand for partners who can de-risk execution and deliver at scale.
According to a press release from Suzlon, Waaree Forever Energies Private Limited secured a Letter of Award (LoA) from the Solar Energy Corporation of India Limited (SECI) for a 300 MW wind power project in Dwarka, Gujarat earlier this year in February. Along with the project award, the company also signed a 25-year Power Purchase Agreement (PPA) with SECI, effective from the scheduled Commencement of Supply Date, ensuring long-term offtake for the project. The project was awarded under SECI's competitive wind power tender, where Waaree Forever Energies emerged as a successful bidder with a tariff of ₹3.68/kWh, demonstrating the company's strong position in both solar and wind energy sectors. As per Pawan Agrawal, CEO of Waaree Forever Energies, this wind project marks an important milestone in building a diversified renewable portfolio beyond solar to serve India's energy needs, representing a natural extension of Waaree's mission to power India's clean energy transition.
With this order, Suzlon's total orderbook in Andhra Pradesh climbs to nearly 1 GW, reinforcing the state's position as a key growth market for the company. According to CNBC TV18 reports, as India's clean energy build-out accelerates, developers are increasingly favoring partners who can manage every stage of a project from land acquisition to long-term operations, rather than relying on fragmented, multi-vendor arrangements. This trend supports Suzlon's strategy of offering integrated renewable energy solutions rather than standalone technologies. The company had revenues exceeding USD 1.75 billion for FY26 and maintains a market capitalisation over USD 7.5 billion as of June 1, 2026.
According to Girish Tanti, Vice Chairman of Suzlon Group, this partnership reflects the industry's future where customers seek integrated solutions, not standalone technologies, and where the DevCo business model is gaining strong momentum. He emphasized that both companies have been trailblazers in their respective sectors and are now evolving into integrated renewable energy leaders. Ajay Kapur, CEO of Suzlon Group, thanked Waaree Group for entrusting them with their maiden wind project, noting that integrated project development and EPC capabilities are becoming a key differentiator in the evolving market. The strategic collaboration unites two companies whose growth has mirrored India's renewable energy sector evolution, with both Waaree and Suzlon having built world-class manufacturing ecosystems and established strong global presence in their respective domains.
