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Suzlon to build 2,000 MW wind projects over next 5 years in MP

Wind power gear maker Suzlon plans to execute 2,000 MW wind energy projects over next five years in Madhya Pradesh as it looks at setting up manufacturing base in the state. “Suzlon Group intends to build 2,000 MW of new wind energy projects in Madhya Pradesh over the next five years and establish supporting manufacturing facilities,” the company said in a statement. However, the company did not disclose the investment plans for executing this capacity.

Suzlon Group has installed more than 50% of total wind capacity in MP. The company made this announcement at the ongoing ‘Global Investors Summit’ at Indore in MP. At the end of March this year, Suzlon Group’s order book was worth about $7.2 billion. The company is currently working on its business revival strategy and plans to raise about Rs 1,000 crore from sale of non-core assets this financial year (2014-15).

The wind turbine maker, in July, received a repeat order worth Rs 750 crore from ReNew Wind Power for its 100.8 MW project in Rajasthan. The order is for supply of 48 units of S97-120m wind turbine generators at Bhesada in Jaisalmer where ReNew Wind Power is setting up the project. It also requires Suzlon to oversee operations, maintenance and service of the site. Shares of the company were trading 4.95% down at Rs 12.68 on the BSE.

Thursday, October 09, 2014 | News Source: business-standard.com

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