Suzlon to look for foreign backing for USD-2.5bn wind plan - report

Oct 10, 2014 - Indian firm Suzlon Energy (BOM:532667) will seek the support of foreign investors to implement an INR 150-billion-plan (USD 2.5bn/EUR 1.9bn) to install 2,000 MW of wind in Madhya Pradesh state, its chairman told the Business Standard on Thursday.

The wind turbine maker has already installed 200 MW of wind turbines in the central state and plans to lift the total to 2,200 MW. On Thursday, it unveiled a project to build 2,000 MW of wind farms and manufacturing facilities in Madhya Pradesh in the next five years. It will search for foreign investors and will also join hands with small and medium enterprises willing to invest in the huge scheme. Chairman Tulsi Tanti noted that Suzlon is already using this model in the states of Gujarat, Maharashtra and Tamil Nadu.

Currently, the turbine maker is identifying land for the wind plants and production facility. The whole plan could result in about 40,000 new direct and indirect jobs, most of them during the construction phase, Tanti told the Business Standard.

After completing the 2,000-MW Madhya Pradesh scheme, Suzlon will have raised its total installed wind farm capacity by 10,000 MW in the next five years. Its present capacity stands at 8,500 MW.

(INR 100 = USD 1.635/EUR 1.288)

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