Suzlon Energy has said its arm Suzlon Energia Eolica do Brasil Ltda (SEOB) has exited the Brazilian market. “Suzlon Energy Ltd (company) announces the filing of voluntary liquidation of its Brazilian subsidiary Suzlon Energia Eolica do Brasil Ltda (SEOB),” the company said in a filing to BSE.
The decision does not, in any way, alter Suzlon’s global operations strategy, it said.
SEOB was established in 2006 to manage business operations in Brazil.
SEOB has taken this decision after carefully considering all options and as a consequence of multiple factors that are unique to Brazil, the filing said.
“We believe that this is a responsible decision for the benefit of long-term sustainability of the company and its shareholders,” the company spokesperson said.
Latest posts by ET Energy World (PTI Copy) (see all)
- OIL Made Significant Contribution In Assam’s Growth: Sonowal - March 20, 2018
- Auction Of Mines For Coal Sale To Bring Higher Investment: Piyush Goyal - March 17, 2018
- India Not Really Prepared For Electric Vehicles At The Moment: Volkswagen - March 15, 2018