The Suzlon group has bought 76 per cent stake in Renom Energy Services Private Limited in two tranches from the Sanjay Ghodawat Group. In the first tranche, 51 per cent equity was acquired at a valuation of Rs 4 billion. An additional ownership of 25 per cent bas been bought for Rs 2.6 billion in tranche 2. Post the acquisition, Renom will continue to operate as an independent board-managed ISP.
Currently, Renom has 2.5 GW of assets under their control. This includes assets of 1,782 MW in wind, 148 MW in solar energy, and 572 MW in BOP under maintenance across different customer segments.
Recently, Suzlon reported a profit of Rs 3.02 billion for quarter one of FY 2024-25. This was a 200 per cent increase from the previous year. In June 2024, they secured a 103.95 MW order from AmpIn Energy Transition to install 33 wind turbine generators.
