Companies

Suzlon wins $1.28-b Caparo wind power deal

| | Updated on: Jan 28, 2011
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Wind turbine maker Suzlon Energy said it has won an order for 1,000 MW of projects worth $1.28 billion (around Rs 5,800 crore) from Caparo Energy India.

The projects will be progressively developed by March 2013, said a statement from the company.

This, as well as the recent large orders won by the company, including one from Vedanta, will give significant visibility to Suzlon in the Indian market with respect to where it will be placed two years from now, said a company official.

Pune-based Suzlon is very much in need of such visibility as it has been posting losses for several quarters now. Its net losses in the second quarter of the current fiscal amounted to Rs 369 crore on a consolidated basis. Its turnover was also down at Rs 3,839 crore, against Rs 4,855 crore in the same year-ago period. The company has debt of Rs 10,000 crore.

The Caparo projects will utilise several of Suzlon's turbine models, said the statement.

Suzlon says it is the third largest wind turbine supplier in the world, and has installed over 15,000 MW of wind energy in 25 countries. Hyderabad-headquartered Caparo Energy India is a subsidiary of Caparo Energy, which is listed on AIM, the alternative market of the London Stock Exchange.

The Suzlon scrip closed at Rs 49.75 on NSE, falling 0.8 per cent.

Published on March 12, 2018

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