Suzlon unveils new growth map, targets 10GW annual sales by FY31

Chennai: Wind energy equipment maker Suzlon Group has unveiled the next phase of its growth strategy, branded as ‘Suzlon 2.0’, with an ambition to quadruple annual renewable energy sales to 10 GW and expand its assets under management (AUM) to 70GW by FY31. In FY26, the company supplied about 2.5GW of wind turbines, its highest annual deliveries to date.

The company plans to invest Rs 2,500 crore over the next five years. Under its new growth strategy, Suzlon aims to expand its renewable energy order book to 15GW from 5.7GW in March 2026. The company said its FY31 targets would be supported by an estimated 40% share of India’s wind market, 3GW of export order intake, and a shift towards a higher-value mix, with around 60% of volumes expected to come from its newly created renewable energy development platform, RE DevCo.

“As the world enters a super-cycle of electrification, Suzlon 2.0 is built to partner with customers and nations to accelerate the energy transition,” said Girish Tanti, vice chairman of Suzlon Group.

With 56GW of wind capacity already installed and a strong pipeline of STU and PSU bids, alongside rising demand from the commercial and industrial (C&I) segment, India is targeting 100GW of wind capacity by 2030. Repowering activity is also gaining traction.

In its latest earnings call, Ajay Kapur, CEO, said demand for wind energy remains strong as the industry moves towards firm and dispatchable renewable energy (FDRE). In FY26, annual wind power installations crossed 6GW, marking the highest annual capacity addition since 2017.

The company, which has traditionally operated as a wind turbine manufacturer, said it is transforming into a wind-first, full-stack renewable energy solutions provider spanning wind, solar, battery energy storage systems (BESS), project development, EPC, and asset management services.

As part of this expansion, Suzlon plans to enter the battery storage segment with an initial investment of Rs 200 crore and set up a BESS manufacturing facility by 2027 to address renewable energy intermittency and grid reliability requirements.