BlackRock Inc., a major player in investments, raised its ownership of Suzlon Energy. A recent regulatory filing revealed this strategic maneuver and that BlackRock now owns more equity in Suzlon than the five percent threshold.
The report states that BlackRock purchased an extra 24.73 million Suzlon Energy shares. After closing on November 30, 2023, this transaction increased BlackRock’s sizeable stake in the renewable energy company. BlackRock owned more than 68.02 million shares, or around 4.99 percent of Suzlon’s entire share capital, before this transaction. BlackRock now owns a total of 5.01 percent of Suzlon Energy after acquiring the additional shares. This amounts to 68.26 million shares of the energy company overall.
BlackRock’s rising interest and confidence in the renewable energy industry is indicated by the increase in holdings, which is in line with global trends towards sustainable and green energy solutions.
BSE data indicates that Suzlon has produced returns of over 268 percent year to date (YTD). The stock has been rising steadily over the past month, reaching new 52-week highs on many occasions. Suzlon’s share price ended Friday, December 1, at Rs 39.42.
BlackRock Enterprises, Inc.
American global investment firm BlackRock, Inc. has its headquarters in New York City. With US$9.42 trillion in assets under management as of June 30, 2023, BlackRock—the largest asset manager in the world—was first established in 1988 as an enterprise risk management and fixed-income institutional asset manager. BlackRock has 70 locations spread over 30 countries and serves clients in 100 countries worldwide. BlackRock is one of the Big Three index fund managers, together with State Street and The Vanguard Group, and it oversees the iShares family of exchange-traded funds. Its BlackRock Solutions subsidiary offers financial risk management services, and its Aladdin software tracks investment portfolios for numerous large financial institutions. According to revenue, BlackRock is 184th among the top US firms according to the Fortune 500 ranking.
BlackRock has made an effort to establish itself as a pioneer in the corporate, social, and environmental governance (ESG) space. Some have criticized it for supporting Israel’s military and investing in businesses that support the People’s Liberation Army, the fossil fuel industry, the People’s Liberation Army, and human rights abuses in China. Others have questioned BlackRock’s efforts to cut back on its investments in businesses that have been linked to gun violence, climate change, and gender diversity; as a result of the company’s environmental, social, and governance (ESG) policies, the states of West Virginia, Florida, and Louisiana have withdrawn funds from it or refused to do business with it. The business has also come under fire for having strong ties to the Federal Reserve during the COVID-19 outbreak.
Suzlon:
Suzlon cluster is one of the world’s top providers of renewable energy solutions, revolutionizing and redefining how property energy sources are managed globally. With its strong competencies in renewable energy systems and its presence in seventeen countries spanning Asia, Australia, Europe, Africa, and consequently the Americas, Suzlon is driving a greener tomorrow. With its extensive range of robust and dependable products, cutting-edge research and development, and nearly two decades of experience, Suzlon ensures maximum performance, increased yields, and the highest return on investment for its customers. Professor Christopher Benninger created the corporate headquarters of Suzlon, which is situated in Pune. Suzlon has built more than 17,000 MW of wind-generating capacity across 18 countries worldwide.
With its cumulative installations, Suzlon has exceeded 11,000 megawatts in India. Suzlon has expanded the total amount of wind generating capacity in India by over 11000 megawatts for more than 1,700 clients at 40 locations spread across eight States. About one-third of all wind installations in the nation are in Suzlon.
Among its noteworthy installations in India are:
Rajasthan’s Jaisalmer Wind Park, with a capacity of 1064 MW.
the 1100 MW wind farm in Gujarat’s Kutch district, which is expected to grow to 2000 MW over the next four to six years. This is the biggest wind farm in Asia at one site as of February 2015.
The 650 MW wind park is located in the Sakri Taluka of Maharashtra’s Dhule District. and intends to attain 1000 MW.
a 584 MW wind park located in Tamil Nadu’s Eastern Ghats.
The 210 MW Vankusawade Wind Park in the Satara district of Maharashtra is located close to the Koyna reservoir.
Suzlon and the Karnataka government inked an Expression of Interest in 2012 to construct 2500 MW of wind power in the state between 2012 and 2017.