Suzlon Energy Ltd has announced the acquisition of a 76% stake in Renom Energy Services for Rs 660 crore, structured in two tranches. The first tranche involves acquiring 51% for Rs 400 crore, while the remaining 25% will be acquired within 18 months for Rs 260 crore. This strategic move positions Suzlon to enhance its O&M services in the renewable energy sector, targeting over 32 GW of non-Suzlon wind energy assets in India. Renom, established in 2015, is recognized as the largest multi-brand O&M provider in the country. Financial analysts, including Morgan Stanley, have responded positively, with an 'overweight' rating and a target price of Rs 73.40 per share. The acquisition aligns with India’s goal of achieving 500 GW of renewable energy installations by 2030 and is expected to significantly bolster Suzlon's service capabilities and market presence.