Suzlon acquires five firms to execute renewable energy projects

The acquired firms will implement renewable energy projects across the country, including the recently won 70 Mw solar projects in Maharashtra

Suzlon Energy Ltd, in its attempt to increase its presence in India's renewable energy sector, has acquired Gale Solarfarms Private Limited, Tornado Solarfarms Private Limited, Abha Solarfarms Private Limited, Aalok Solarfarms Private Limited and Shreyas Solarfarms Private Limited.

In its BSE filing, the company said the acquired firms will implement various renewable energy projects across the country, including the recently won 70 Mw solar projects in Maharashtra.

''These companies, which have been acquired at face value, do not have any operations or assets currently and have been acquired primarily to be used as SPVs for the proposed solar projects,'' said the company.

The Suzlon Group, which has a presence in 19 countries, has a cumulative installed capacity of approximately 15 Gw of wind energy. It has recently entered into the solar energy space and has bagged 210 Mw in Andhra Pradesh and 70 Mw in Maharashtra.

The company has recently appointed JP Chalasani as the chief executive officer.