Suzlon in $1.28 bn deal with Caparo

Wind turbine maker Suzlon today said that it won an order from Caparo Energy India to put up wind turbines to develop 1,000 Mw wind power projects by March 2013.

The total deal value is estimated at $1.28 billion and around 500 Mw of the capacity is expected to be commissioned progressively by March 2012.

The projects would utilise various Suzlon turbine models including the new S88 and the new S9X series 2.1 Mw turbines with doubly fed induction generator technology.

Caparo Energy India is a wholly owned subsidiary of AIM-listed Caparo Energy and is looking to become an independent power producer (IPP) in India with a thrust on wind energy.

"This has been a strong year for wind in the Indian power market. With large players like Caparo entering the market, we also see large wind IPPs in India becoming a major force, in addition to the strong captive and small-size segment. We are also seeing growing interest of overseas investors to deploy funds through the IPP route," said Tulsi R Tanti, Chairman and Managing Director, Suzlon group.

 

Shares in Suzlon were up by about 0.7 per cent in early Friday trade, outperforming a broader Mumbai market that was down by 0.5 per cent.