Sany Renewable Energy secures 1.6GW wind turbine deals in India

October 29, 2024

Sany Renewable Energy is a unit of the Chinese engineering machinery major Sany Group. Credit: GheorgheGarcu/Shutterstock.

Sany Wind Energy India will supply wind turbines with a combined generating capacity exceeding 1.3GW to three subsidiaries of JSW Group, an Indian multinational conglomerate.

An additional 300MW deal was signed with the local branch of Singaporean state-owned energy company Sembcorp. The Chinese original equipment manufacturer (OEM) has not provided financial details, and the specific projects included in the agreement remain unspecified.

In a post on LinkedIn, Sany Renewable Energy (SRE) stated: “This strategic partnership underscores Sany Renewable Energy’s and our partners’ shared commitment to sustainable development and advancing wind power, strengthening global confidence in Sany’s research and development, technical expertise and product quality. We look forward to collaborating with more international partners to shape a greener future.”

Sany Renewable Energy is a unit of the Chinese engineering machinery major Sany Group.

In the first half of 2024, it sold wind turbines with a capacity of 3.3GW, a 121% increase from the previous year, according to the company’s semi-annual earnings report.

Revenue from wind turbine sales and related parts reached 4.9bn yuan ($687.1m), accounting for almost 94% of the company’s total revenue.

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The gross profit margin for the business was 15.1%, with higher margins reported for international markets compared with China.

In October 2024, Sany Renewable Energy installed its self-developed 15-MW SI-2701150 onshore wind turbine in Tongyu, Jilin Province, China.

In another wind energy deal in India, renewable energy solutions provider Suzlon Group obtained a 1.166 GW order from NTPC Green Energy in September 2024.