Suzlon Energy Acquires 51% Stake in Renom

9 Sep 2024 , 11:56 AM

Suzlon Energy Ltd. completed the acquisition of a 51% stake in Renom on September 6, 2024. With this acquisition, Renom becomes a subsidiary of Suzlon Energy.

Suzlon also signed a conveyance deed with OE Business Park Pvt. Ltd. for the sale of its corporate office, “One Earth Property.”

The total transaction value for the sale is ₹440 Crore, of which ₹411.21 Crore is for the property and ₹28.79 Crore for stamp duty and registration fees.

At the time of writing on September 9, 2024 at 11:50 am, Suzlon Energy Ltd’s shares were trading 1.24% higher at ₹75.65. Suzlon Energy Ltd’s stock has seen a 92% gain over the past six months. Suzlon Energy Ltd’s stock has gained a total of 215% in the last one year.

Suzlon is an Indian multinational wind turbine manufacturer headquartered in Pune. Suzlon operates 15 manufacturing facilities and employs over 8,000 people globally. Notable wind energy installations in India include Jaisalmer Wind Park (1064 MW), Kutch (1100 MW), Sakri (650 MW), Eastern Ghats (584 MW), and Satara (210 MW).