To spend Rs 1,500 cr in the next 2 years
Mumbai, Nov. 6
Suzlon Energy Ltd will be spending Rs 1,500 crore in the next two years to set up a factory to manufacture 1,500-MW wind turbines in Karnataka and expand its existing unit in Baroda, Gujarat.
"The capital expenditure will be funded through internal accruals and bank finance," said Mr Tulsi Tanti, Chairman and Managing Director, Suzlon Energy.
The company currently has over 30 wind farms in eight Indian States and is planning to spread to three more.
"We are constructing a wind resource study in West Bengal, Orissa, Chhattisgarh and Bihar. If we find resources there, we will expand into those States as well," said Mr Girish Tanti, Director, Suzlon Energy Ltd.
The company's rotor blade unit in Minnesota, USA, and its factory in Tianjin, China, started operations this year.
In March, Suzlon bought Belgium-based wind energy and industrial gearbox maker Hansen Transmissions International NV for 465 million ($596 million). Capacity of the Hansen unit is to be raised from 3,200 MW to 5,800 MW at a cost of Rs 800 crore.
Shares of the company rose 0.01 per cent to close at Rs 1,315.65 on the BSE.