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Our Bureau

Plans Rs 1,500-cr investment to expand facilities

MR TULSI R. TANTI, Chairman and Managing Director, Suzlon Energy Ltd, at a press conference in the Capital on Monday. — Kamal Narang

New Delhi , Sept 18

Suzlon Energy Ltd, the Pune-based wind turbine manufacturer, today said that it has bagged a Rs 1,190-crore order from US-based John Deere Wind Energy to supply wind turbine equipment.

The company is also investing Rs 1,500 crore to expand its manufacturing facilities and is targeting 40 per cent revenue growth this fiscal.

Mr Tulsi Tanti, Chairman and Managing Director, said that Suzlon Wind Energy Corporation, the Chicago-based subsidiary of Suzlon's international arm - Denmark-based Suzlon Energy A/S - received the order to supply 247 MW of wind turbine equipment.

The order would be executed over the next one year.

Mr Tanti also said that the company is expecting more orders from the US, besides orders from Brazil, France and Greece.

On the plans to expand capacity, he said: "We are investing about Rs 750 crore at our Baroda and Coimbatore forging and foundry plants and another Rs 750 crore at Udupi to set up a greenfield turbine manufacturing facility."

The company would borrow about Rs 1,000 crore from domestic and international markets over the next 18 months to meet the funding requirements of the two projects, while Rs 500 crore would be raised through internal accruals.

The Udupi plant would have a production capacity of 1,500 MW, he said, adding that this would take the company's total production capacity to 4,200 MW.

The company currently has a capacity of 2,700 MW, including 600 MW each in China and the US where the facilities have been commissioned.

On the growth being targeted by the company this fiscal, Mr Tanti said: "The global market is growing at 25 per cent. But the markets where we operate - such as India, China, the US and eastern Europe - are growing at 40 per cent and we hope to grow faster than that in topline."

The company's current consolidated order book position stands at Rs 5,777 crore, with Rs 4,977 crore in international orders and Rs 800 crore in domestic orders.

In terms of capacity, Suzlon's order book stands at 1,230 MW, including 207 MW in India and 727 MW in the US.

More Stories on : New Business | Non-conventional Energy | Suzlon Energy Ltd

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