India’s leading manufacturer of Wind Turbine Generators, Suzlon Energy Ltd has received a big new order from energy major ONGC, for 51 MW of wind turbine capacity.

The company would supply 34 units of Suzlon's S82 - 1.5 mw turbines to ONGC for the project in Kutch region of Gujarat. The order also covers operation and maintenance for the project for a period of ten years, an official release said.

Mr. I. C. Mangal, Head Suzlon (SBU West) said, “We are extremely pleased to be associated with India’s leading Oil & Gas Company. This order is a major initiative by ONGC towards developing renewable energy sources alongside conventional sources to create an environmentally friendly and sustainable energy future. We are proud to partner with ONGC and look forward to exceeding their expectations.”

Anoop Kumar Mathur, General Manager (technical), ONGC said, "We have placed orders for 50 mw and will soon install another 50 mw in Karnataka. Within the next year, ONGC will add another 100 mw and is exploring options in Maharashtra and other states."

Suzlon Energy Ltd, the flagship company of the Suzlon Group, specializes in providing total solutions in wind power generation with cohesive integration of design, manufacturing, installation, operation and maintenance services. The company is the 5th largest in the world in manufacturing of wind turbine generators.

The firm presently holds market cap worth Rs. 53,919 crore, PE Ratio of 50.91. The stock is fairly priced with an EPS of 36.78 and BV of 129.04. The firm had showed a net profit of Rs 356 crore for the quarter ended September 2007 as against Rs. 253 crore in same quarter of last year.

Energy sector is looking good for long term investments. Power Generation and Transmission companies are showing decent growth numbers. The expectations are high in coming quarters. Suzlon is one of the best companies in terms of fundamentals and valuations for long term.

At 12:46 PM, the share was trading at Rs. 1877 on NSE, up by 2 % compared with previous close of Rs.1839. The stock has touched an intraday high of Rs. 1889 and low of Rs. 1850.