Suzlon is expanding beyond wind into solar, battery storage, project development, and asset management under a new strategy
It plans to increase the group’s annual renewable energy sales to 10 GW by FY2031
It expects the RE DevCo arm to become a major growth driver, contributing around 60% of renewable energy sales volumes by FY31
Suzlon Group, the Indian wind turbine manufacturer, has forayed into solar and battery energy storage system (BESS) space, creating a wind-first full-stack renewable energy solutions company that covers all 3 technologies.
Under Suzlon 2.0, the company said its new business architecture will combine wind, solar, BESS, and energy management service (EMS) under a single, bankable delivery model.
A key pillar of the strategy is RE DevCo, which Suzlon describes as an integrated co-development platform focused on securing land, grid connectivity, approvals, and project execution. The company expects the platform to help customers accelerate renewable energy deployment as it converts the renewable energy potential of a site into execution-ready sites at scale.
“RE DevCo will be the growth engine of Suzlon 2.0. As India's first integrated renewable energy co-development platform, it is designed to solve the industry's biggest challenge by accelerating project readiness, scale, and reducing time-to-market,” said Suzlon Group CEO Ajay Kapur. “We aim to capture 60% of our volume contribution from RE DevCo, leading to 40% market share in the Indian wind market. We are targeting 15 GW of RE orderbook and 3 GW of export order intake by FY31.”
Moreover, its RE Projects division will scale the group’s EPC platform to deliver wind, solar, and BESS projects, thereby reducing project delays and providing delivery certainty.
With this strategic move, Suzlon says it aims to become one of the world's most integrated renewable energy businesses by FY2031. Under its RE Asset Management Services division, Suzlon aims to expand its services across wind, solar, hybrid, and multi-brand portfolios 4-fold to 70 GW by FY31. The company also targets maintaining around 40% of India's wind market and securing 3 GW of export order intake.
Wind energy will remain Suzlon's core business, supported by its next-generation turbine platform. For solar, Suzlon intends to follow an asset-light approach through partnerships. As part of its diversification strategy, Suzlon plans to enter the battery storage segment and establish a BESS manufacturing facility by 2027.
The company said the move is aimed at improving the reliability and grid readiness of renewable energy.
In FY26 (ended March 31, 2026), Suzlon’s revenues totaled over $1.75 billion, with around 21.5 GW of wind energy capacity spread globally, including 15.5 GW installed in India and 6 GW across 17 countries. It also claims to have delivered a 67% profit after tax (PAT) growth for the year.
In related news, Suzlon has announced the appointment of Ashok Ramachandran as the President for its India Business (see Suzlon Appoints Ashok Ramachandran To Lead India Business).