Suzlon, a provider of renewable energy solutions, said on Monday that Serentica Renewables, a platform devoted to decarbonization and pushing the energy transition for energy-intensive businesses, had placed a “significant” order for its 3 MW series of wind turbines. Serentica’s proposed 204 MW wind power project in Koppal, Karnataka, wouldContinue Reading
Suzlon Group, India’s renewable energy behemoth, has received its second order for the 3 MW product series, signing a contract with Juniper Green Energy Private Limited for a 69.3 MW wind power project in Gujarat. The Surendra Nagar district project will have 22 wind turbine generators, each with a capacityContinue Reading
An Indian lender has approved Suzlon Energy‘s intention to convert some of its debt of around Rs 4,100 crore into equity. Following the dilution, creditors’ ownership would increase to 35 percent, while promoter Tulsi Tanti’s share would fall to 12.7 percent from 16 percent. REC, a lender in the powerContinue Reading
Suzlon Group, India’s largest renewable energy solutions provider, has announced its new order win for development of a 252 MW wind power project from CLP India. Suzlon will install 120 units of S120-140m wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower, with rated capacity of 2.1 MWContinue Reading
Debt-laden, Suzlon Energy has finally received two critical lifelines from its lenders and bondholders. Multiple banks, led by India’s largest — State Bank of India — approved a plan to restructure Suzlon’s outstanding debt worth Rs 14,000 crore. Details of the restructuring plan have not been announced yet. However, theContinue Reading
The share price of Suzlon Energy dipped by 10 per cent on Wednesday morning after the financially-strapped renewable energy solutions provider said it defaulted on loans worth Rs 7,256.38 crore. The company said that the loans were given by a consortium of 18 banks led by the State Bank ofContinue Reading
Suzlon Energy Ltd has found a new suitor even as a rescue plan of Canada’s Brookfield Asset Management Inc. faltered, said Tulsi Tanti, the founder and chairman of the financially-troubled wind turbine maker. The lenders’ consortium for Suzlon was earlier working on a resolution plan involving the purchase of a majority stake byContinue Reading
For years, Suzlon Energy had been flirting with financial turmoil and recently the company witnessed a rather unfortunate milestone which could define the company’s future. As several market analysts had cautioned, Suzlon Energy has defaulted on a payment due against foreign currency convertible bonds (FCCBs). The company failed to makeContinue Reading
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