The giant player in the energy sector Suzlon has tied-up with Chennai-based Coromandel Wind Energy Limited (CWE). Suzlon, India’s largest wind turbine manufacturer, will be involved in a project of 36 units of Suzlon’s new S97-2.1 MW wind turbine generators, which willbe commissioned in the fiscal year 2012-13.
Under this agreement, Suzlon will set up, operate and maintain a 75.6 MW wind power project for Coromandel Wind Energy in Rajasthan. The deal is valued at nearly Rs470 crore. CWE is established by a team of highly successful Indian and international promoters.
Dr Arun Subbiah, director, CWE said, “The company has been set up to be a preferred investment vehicle for foreign and local investors targeting the booming energy sector in India. The company plans to list on a recognised exchange either in India or London at the appropriate time and is expected to achieve a market capitalisation in excess of $250 million by 2014.”
The Suzlon Group is ranked as the world’s fifth largest wind turbine supplier in terms of cumulative installed capacity at the end of 2010.
The company’s global spread extends across Asia, Australia, Europe, Africa as well as in North and South America with over 18,000 MW of wind energy capacity installed in 28 countries and operations in over 32 countries. The group has a workforce of over 13,000.
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