"This order underlines ITC’s experience with Suzlon in their existing projects, and Suzlon’s value proposition to investors. We are keen on continuing this partnership for responsible and sustainable business to help achieve ITC’s organisational goals on sustainability," Suzlon Energy President (Business Development, India) I C Mangal said.
These orders follows earlier wind energy projects commissioned by the company in Tamil Nadu and Maharashtra for ITC. With these orders ITC Ltd’s wind portfolio increases to 47.1 MW.
"The agreement with Suzlon for the establishment of two new wind power projects is a part of ITC’s commitment to pursue a low-carbon high-growth strategy and progressively increase its use of renewable energy sources," ITC Ltd Divisional Chief Executive Tobacco Division Sanjiv Puri said.
ITC operates in cigarettes, hotels, packaging, agri-business, packaged foods, and other FMCG products. Shares of Suzlon Energy were trading at Rs 90.50 on the BSE, up 0.17 per cent from its previous close.