Financial Daily from THE HINDU group of publications
Friday, Mar 17, 2006
Financial Daily from THE HINDU group of publications Friday, Mar 17, 2006 |
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Corporate
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Overseas Investments Industry & Economy - Non-conventional Energy Suzlon Energy to invest $60 m in China Our Bureau
Mumbai , March 16 Wind energy major, Suzlon Energy Ltd (SEL), would invest $60 million in China for setting up an integrated wind turbine generator (WTG) manufacturing facility. The facility will have an annual production capacity of 600 MW. It is being set up at Tianjin, the company said in a press release issued on Thursday. The investments would be made through SEL's Chinese subsidiary, Suzlon Energy (Tianjin) Ltd. The facility will come up at Tianjin's Hi-Tech Industrial Park and will manufacture WTG and integrate major WTG components, like rotor blades, generators, nacelles and control panels. SEL also plans to develop a Learning and Development Centre at the site, which will facilitate the transfer of company's experience and knowledge. According to Mr Paulo Fernando Soares, SEL Chief Representative Officer, new products tailor made for the Chinese market, would be introduced in 2007 and completely manufactured at the new facility, the release said. China's Renewable Energy Law, which came into effect from January 1, 2006, is one of the largest state-sponsored commitments toward renewable energy in the world.
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