India's Suzlon may build wind park off Gujarat coast

Indian wind turbine maker Suzlon Energy Ltd (BOM:532667) plans to enter the country’s offshore market and expects its first such project to be in the state of Gujarat, according to chairman and managing director Tulsi Tanti.

Both Gujarat and Tamil Nadu have great offshore potential, Tanti said as cited by the Press Trust of India (PTI) on Sunday.

Meanwhile, the company will focus its activities on the domestic market in the short-to medium-term, as it seeks to get rid of its debt burden. Earlier this year, Suzlon sold its German unit Senvion SE to US buyout firm Centerbridge Partners LP for EUR 1 billion (USD 1.1bn) in an attempt to raise money to retire debt. Under the terms of the deal, Senvion gave Suzlon a license for offshore technologies for the Indian market.

Tanti also mentioned, as cited by the PTI, that the company expects to expand its onshore wind farm in Kutch, with a current installed capacity of 1,100 MW, to 2,000 MW in two years. Upon completion, the wind power complex will be the world’s largest developed at a single location.

(EUR 1.0 = USD 1.111)

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