Suzlon Energy set to sell stake in 130 mw projects

Suzlon Energy set to sell stake in 130 mw projects

Suzlon Energy has divested 49% stake in solar power projects totalling 210 mw and is in advanced talks to sell stake in another 130 mw projects in a deal that the company aims to close before March, said Kirti Vagadia, group chief financial officer.

The company had divested 49% in six projects totalling 210 mw to raise Rs 176 crore. Further stake sale could potentially fetch the company another Rs 110 crore.

Wind turbine maker Suzlon announced its foray into the solar power sector in January 2016 by bagging orders worth 210 mw from state utilities in Telangana. Subsequently, the company built a portfolio of solar power projects totalling 515 mw. It has already signed power purchase agreements for 340 mw. Read More…

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