Suzlon to ramp up capacity to 5,700 MW
BL reported that Suzlon Energy Limited has plans to raise its manufacturing capacity to 5,700 MW by later this year.
Mr Tulsi Tanti chairman of Suzlon Energy Limited said "We would raise our manufacturing capacity to generate 5,700 MW, up from the current 4,000 MW, by the end of the Q1 of the next fiscal."
Mr Tanti said Suzlon was expected to post a net profit in the March quarter. Since 40% of our annual business comes in the Q4 of every fiscal, we are sure that there will be profits in the Q4, as against losses in the previous quarters."
He said the Pune based company plans to use accruals from operations and debt to pay Portugal's Martifer Group for a stake in Germany's REpower Systems AG. We are looking at operations and partly debt to pay Martifer. I don't see any difficulty.
Mr Tanti further added that there were no plans to reschedule the payment to Martifer, which was due in May. In December, Suzlon agreed to a revised payment schedule with Martifer to buy a 22.4% stake in REpower. Suzlon needs funds to pay EUR 205 million more by May to purchase Martifer’s stake in REpower.
Suzlon in a March 19th statement to stock exchanges earlier said it was exploring options, including a private equity placement, to raise funds for its operations and growth plans.
(Sourced from Business Line)
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