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The High Court of Madras has appointed Justice K Chandru, a retired Judge, as the Sole Arbitrator to adjudicate on the dispute between the wind turbine manufacturer, Suzlon, and the Chennai-based wind power company, Indowind Energy Ltd.
BSE-listed Indowind has an 18 MW wind farm in Karnataka. Sources in the company said that the dispute arose when Suzlon’s machines did not perform up to the guaranteed level, and as such Indowind felt that in accordance with the agreement, it was entitled to deduct performance guarantee penalty. The ‘operations and maintenance’ company, Suzlon Infrastructure Services Ltd, (since merged with Suzlon Energy Ltd) disagreed and stopped the machines, which resulted in loss of revenue to Indowind.
Indowind feels it is entitled to get Rs 20 crore from Suzlon.
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