Suzlon Energy stock was having a strong support at Rs 65 which has been broken in today's trading session. The renewable energy major could see a recovery but short term traders should exit the stock at the current levels. Suzlon has witnessed a decline over the last one month. The stock witnessed a strong rally till multiple-year high of Rs 86.04 and currently is facing selling pressure.

Suzlon could offer renewable energy solutions to Andhra Pradesh as the state is positioning itself as a key destination for renewable energy and digital transformation investments, driven by proactive government initiatives and high-profile engagements. State Minister Nara Lokesh recently met with Suzlon Energy’s leadership to discuss their upcoming investments and job creation in the renewable sector. In a similar vein, Lokesh’s October meeting with Microsoft CEO Satya Nadella underscored the state's ambitions in IT, AI, and skill development. These discussions align with Andhra Pradesh’s Integrated Clean Energy Policy-2024, which aims to attract large-scale investments in clean energy, including green hydrogen and Pumped Storage Power (PSP), by leveraging the state’s resources effectively.

High-Level Dialogue with Suzlon Energy for Renewable Growth

Focused Discussion on Investment and Employment: Andhra Pradesh Minister Nara Lokesh engaged in a strategic conversation with Suzlon Energy executives, including Group CEO JP Chalasani, to outline the company’s plans for substantial investments and job creation within the state.
Opportunities in Renewable Energy: Lokesh emphasized the vast potential for renewable energy investments in Andhra Pradesh, reflecting the government’s commitment to establishing the state as a leading renewable energy hub.

Collaborative Efforts with Microsoft for Digital Transformation

Engagement with Microsoft CEO: In October, Lokesh held an insightful meeting with Microsoft CEO Satya Nadella, aimed at strengthening Andhra Pradesh’s digital infrastructure and workforce capabilities in emerging technologies.
Ambitions in IT, AI, and Skill Development: Lokesh expressed a desire for Microsoft’s support in advancing IT, artificial intelligence, and skill development initiatives across the state, signaling Andhra Pradesh’s dedication to digital transformation.

Lokesh’s Vision for Andhra Pradesh: “Had an insightful meeting with @satyanadella, CEO of @Microsoft,” Lokesh shared in a post. “Looking forward to collaborative efforts to drive digital transformation and opportunities in the state.”

Launch of Andhra Pradesh’s Integrated Clean Energy Policy-2024

Policy Overview: The Andhra Pradesh government recently introduced the A.P. Integrated Clean Energy Policy-2024, aimed at fostering large-scale investments in renewable energy. The policy seeks to streamline the promotion of green hydrogen, Pumped Storage Power (PSP), and other renewable energy sectors through optimal resource utilization.
Making Andhra Pradesh a Renewable Investment Destination: By leveraging its vast natural resources and policy incentives, Andhra Pradesh aims to position itself as a prime location for clean energy investment, encouraging sustainable economic growth.

Key Sectors Targeted for Investment and Development

Focus on Green Hydrogen and PSP: The Integrated Clean Energy Policy emphasizes green hydrogen and Pumped Storage Power as key areas of growth, with Andhra Pradesh focusing on environmentally sustainable power solutions that align with national and global clean energy goals.
Expanding Opportunities in Renewable Energy: The policy also highlights the state’s dedication to expanding renewable energy infrastructure, promoting job creation, and ensuring long-term energy security through sustainable practices.