Tulsi Tanti, the founder chairman and managing director of Suzlon Energy and a renowned expert on renewable energy, died due to cardiac arrest on Saturday evening. Tanti, 64, who was also the chairman of the Indian Wind Turbine Manufacturers Association, was on his way to Pune from Ahmedabad when he suffered a cardiac arrest, a company official said. He is survived by his daughter Nidhi and son Pranav.
Wind power major Suzlon Energy on Wednesday said it has bagged a contract from California-based Edison Mission Group for supply of 300 turbines.
Suzlon Energy, the world's fifth largest wind turbine maker, has increased stake in its German subsidiary REpower Systems to 73.71 per cent by paying euros 65 million (around Rs 447 crore) to Portugal's Martifer SGPS, which owns 22.4 per cent stake in the German wind power manufacturer.
Suzlon is also looking at South Africa as a possible manufacturing base to join the ones it already has in India, China, Germany and Brazil, but chief executive Tulsi Tanti said it was still too soon to provide further details of this.
Suzlon Energy Ltd will hit the capital market on September 23 for raising upto Rs 1500 crore (Rs 15 bilion) to expand its domestic manufacturing facilities and set up new plants in the US and China.
Suzlon Energy Ltd, one of India's largest wind turbine manufacturers, said on Monday sting Rs 1,500 crore (Rs 15 billion) to expand its manufacturing facilities with an aim to achieve over 40 per cent revenue growth this year.
In a filing to the Bombay Stock Exchange, Suzlon Energy said the board has also approved increasing the private investment limit in one of its subsidiary to 17.1 per cent for a consideration of Rs 400 crore (Rs 4 billion). However, the company did not disclose where it would deploy the funds raised.
Once declared a dud stock, Suzlon has generated stellar returns for investors thus far this calendar year. On a year-to-date (YTD) basis, Suzlon's share price has doubled investor wealth by soaring 109.35 per cent on the bourses. By comparison, the benchmark BSE Sensex has gained just 11.2 per cent.
The Rs 6,130-crore (Rs 61.3 billion) Suzlon will buy out Areva's stake in REpower, a year down the line, at a valuation to be decided on by an independent team.
Of the total project value of $5-billion, Suzlon Green Power will provide approximately $1.5 billion in equity. Suzlon Green Power will acquire existing green power assets and greenfield power projects. "Suzlon Green Power's business model will offer us an asset-based, long-term annuity income while mitigating the twin challenges of global warming and climate change.
Tanti, who acquired Germany's REpower Systems last year, today announced plans to buy Chinese wind energy company Honiton Energy Holdings. The acquisition will be concluded through Colossus Holdings, a Singapore-based holding company of the Tanti group, and Bahrain-based private equity company Arcapita Bank for over $500 million (Rs 2,162 crore), sources said.
Suzlon Wind Energy, the North American subsidiary of India's Suzlon Energy Ltd, on Friday said it plans to generate 728 MW of clean power in the US in 2010 through nine wind farms.
Suzlon Energy, which is facing consumer complaints of faulty blades supplies, has shelved plans of setting up a tower manufacturing facility and suspended the process to increase its stake in REpower of Germany, in the context of the current financial turmoil.
Wind energy major Suzlon Energy on Friday said its group firm in Spain has entered into a pact with EUFER to supply wind turbines to Spain and Portugal.
Armed with a counter offer, country's largest wind energy company Suzlon Energy is confident to acquire the German firm REpower but will refrain from getting into a bidding war if that hurts the interest of its shareholders.
Pune-based Suzlon Energy Ltd on Friday said its wholly owned subsidiary has bagged an order from China for supply of wind turbines.
Wind power major, Suzlon Energy has revised its offer price for REpower Systems to 150 Euro per share, with an acquisition of 7.7 per cent stake in the German firm.
The Sangli Civil Court has issued an order to the police officers at Sangli asking them to provide police protection to save the Suzlon Energy company's machinery, sub-stations, vehicles, employees and windmills.
Suzlon is the world's largest wind energy turbine maker and is listed on the Bombay Stock Exchange.
Suzlon Energy has bagged an order from Spain for supplying 42.5 MW wind turbines.
Sebi pulled them up for delay in amending insider trading norms.
Asia's largest integrated wind power company, Suzlon Energy has secured a contract from China-based Guohua Xilinguole New Energy and Source Co Ltd for a wind farm project.
Suzlon Energy, one of the top five wind energy manufacturers in the world, plans to raise $500 million (Rs 2,000 crore) through the Qualified Institutional Placement (QIP) route to fund its expansion plans.
Wind turbine manufacturer Suzlon Energy on Tuesday said it will raise funds through rights issue to repay its debt.
The latest crisis in the form of default to bondholders can be a crippling blow.
Suzlon made its initial tender offer for the shares of REpower supported by Martifer in February last year. The deal was structured in such a manner that Suzlon would buy Martifer's stake within two years for a price of ?265-270 million.
A deal with Gamesa seen valuing firm at $3 billion.
Wind power major Suzlon Energy on Friday announced the acquisition of German wind turbine manufacturer REpower after the French nuclear energy group decided to withdraw from the bidding contest.
Suzlon Energy Ltd on Monday said its US subsidiary Suzlon Wind Energy Corporation has bagged turbine supply order from US-based Edison Mission Group.
Bondholders rejects the company's proposal seeking four-month extension to repay debt of nearly $221 million. Group chief financial officer Kirti Vaga expects an acceptable solution at the earliest.
Suzlon Energy, India's largest producer of wind turbines, has received approval from the German regulator
The world's fifth largest wind turbine maker, Suzlon Energy, which has been grappling with quality issues with its rotor blades in the US and struggling to repay debt, finds itself in rough weather yet again -- this time in its home turf near Pune.
The Rs 6,130 crore (Rs 61.3 bn) Suzlon Energy is all set to storm into the world's top four wind turbine manufacturers with the acquisition of the Hamburg-based REpower.
Belgium-based Hansen Transmission, a Suzlon Energy subsidiary, has raised euro 400 million (about Rs 2,300 crore) by issuing 164 million shares through an initial public offering (IPO) to fund plans in India and China.
Senvion SE will give Suzlon licence for off-shore technology for the Indian market.
Pune-based Suzlon Energy Limited, the world's sixth largest wind turbine manufacturer, will establish a manufacturing base in Tianjin, a northern Chinese port city, to tap the booming Chinese market.
Suzlon Energy is relocating its management team to Amsterdam to span their global business.
Suzlon Energy Ltd, a leading manufacturer of wind turbine generators on Friday, said its Netherlands-based wholly owned subsidiary AE-Rotor Holding BV, will acquire Belgium-based EVE Holding NV for Euro 465 million.
European wind turbine makers interested; deal could be $1 billion. The company aims to raise about $1 billion from the sale of a 61.28 per cent stake, said two banking sources.
Pips French co for third-largest German wind power company.
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