Suzlon sees FY 2013/14 sales volumes of 1 GW - report

Dec 16, 2013 - Indian wind turbine maker Suzlon Energy (BOM:532667) is to sell up to 1,000 MW of turbines in its fiscal year to March 31, 2014, chairman Tulsi Tanti told daily The Economic Times, adding that the worst for the firm was over.

For two years, the company has been struggling with piling debts and its whole focus was on liability management. Now that a debt restructuring programme is already in progress, Suzlon is turning its attention towards its operational performance, Tanti was quoted as saying.

In fiscal 2012/13 Suzlon shipped only 250 MW of equipment. Now it sales volumes for fiscal 2013/14 to reach 900 MW-1,000 MW, including 300 MW-400 MW of shipments out of India. Tanti said that demand was reviving in mature markets such as the US, Germany and Canada after a period of declining wind energy development there. For India, Suzlon expects 1,800 MW of 2013/14 wind capacity additions, The Economic Times said, thanks to the central government’s backing for the sector and increased interest towards wind power among Indian states.

Tanti told the newspaper that the company was hoping to be “back in a position of strength” by fiscal 2014/15. At the end of October 2013 Suzlon’s order book stood at 5,100 MW worth around INR 438.34 billion (USD 7 billion/EUR 5 billion).

(INR 100 = USD 1.613/EUR 1.171)

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