Current order book at Rs. 15,000 crore
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Drops plans to invest in tower manufacturing
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NEW DELHI: Leading wind power equipment maker Suzlon Energy on Monday announced its plans to venture into the solar energy sector.
Talking to newsmen on the sidelines of the ongoing India Economic Summit here, Suzlon Energy chairman and Managing Director, Tulsi R. Tanti said this would be in addition to the plans for tapping the wind power potential in the country.
The company, he said, had already identified sites in Rajasthan and Gujarat for setting up solar energy power plants stating that only 10 acres of land was required for one MW of solar power generation.
However, Mr. Tanti refused to spell out any financial details of the company for investment in this sector.
The current order book of Suzlon Energy stands at Rs. 15,000 crore for projects worth 2,500 MW. In the current scenario, Suzlon Energy is the biggest player in the wind turbine business in Asia and the fifth-largest worldwide.
With headquarters in Pune, it has several manufacturing sites in India including Puducherry, Daman, Bhuj and Gandhidham and abroad in mainland China, Germany and Belgium.
In view of the global economic slowdown and anticipated cuts in investments and expansion plans, the company could defer its recruitment plans till the end of the current fiscal.
The company had dropped plans to invest in new tower manufacturing facility and accordingly the total capex plan would stand reduced by Rs. 669 crore.
Source : The Hindu
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