Suzlon going strong, bags 166MW new wind turbine orders In India

Suzlon Energy Ltd., India’s largest and world’s fifth largest wind turbine manufacturer, has successfully bagged cumulative orders of 166.30MW valued Rs.935 crore in India over a two-month period, excluding orders announced separately.

According to an announcement made by Suzlon, these orders cover various firm orders secured between October 22,  2011 and December 22,  2011 and represent a strong customer-mix, covering PSUs, large corporates and SMEs with order sizes ranging from as small as 0.6 MW to 20 MW.

Speaking about the d evelopment, Suzlon’s Founder, Chairman and MD, Mr. Tulsi Tanti said that these orders underscored the vibrant and rapidly growing Indian wind sector, and Suzlon’s ability to tailor end-to-end wind solutions to all its customers. “With an ever increasing need for energy, along with technology making it possible to profitability harness low wind sites, we see India continuing to be one of our fastest growing markets in the years ahead,” he said.

The company has made significant progress over the recent times in India and abroad and expects to continue its growth amid slumping European market. The company has reported a net profit of US $ 22 mn for H1 FY11 on a total revenue of $1,877 mn. The company had incurred a loss of $256 mn in the first half of previous year.

Mr. Tanti said that the Suzlon Group was happy to witness consistently improving performance, with significant progress on key strategic initiatives, including the completion of the Hansen sale, realizing about US$ 187 mn, and the continuation of the ‘squeeze-out’ process with REpower.

 

Source: EnergyNext

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