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Friday, January 18, 2013
Suzlon installed capacity in AP crosses 150 MW
[Now with the diesel price rising there would be natural shift towards Green Power, because of less production cost. Suzlon Energy Ltd already has more than Rs.40, 000 Cr (approx) of order book as of now, which is expected to shoot to Rs.45, 000 Cr plus, by the end of this fiscal. The company would get an interest rate waiver of around 300 bps which is not a matter of joke over and above of a couple of years of moratorium on the EMI payment to the banks (The lenders have lowered interest rate on loans to around 11% from 14% earlier. They have also agreed to a moratorium period of two years on payment of both interest and principal). Also, now since the CDR package is over, we can look forward for good balance sheet in the coming days. I expect Suzlon Energy Ltd to return to BLACK within a few quarters. Buy of the shares at CMP of Rs.19, is highly recommeded].
Hyderabad, Jan 18: Suzlon Energy Ltd today announced the completion of 150-MW capacity wind power generation farms in Andhra Pradesh, with about 115 MW in the last nine months.
Following the Andhra Pradesh Government’s move to offer a tariff of Rs 4.70 per unit based on the Andhra Pradesh Electricity Regulatory Commission’s nod to hike tariffs, more wind power companies are looking at the State.
In a statement, Suzlon Energy has said that it has crossed the installed capacity of 150 MW in Andhra Pradesh with the addition of new capacity.
Rohit Modi, Chief Executive Officer, India and Emerging Markets, Suzlon Energy, said: “Suzlon persevered to complete 150 MW of installed capacity. We credit this achievement to the support from Andhra Pradesh Government, customers and local communities.’’
Kamlakar Babu, Vice-Chairman and Managing Director, New & Renewable Energy Development Corporation of Andhra Pradesh Ltd, in a statement said: “We are optimistic about the opportunities wind energy has to offer in Andhra Pradesh. Such projects will contribute to the State’s efforts to create low carbon and green economy."
Suzlon, rated among major wind energy companies globally, has installed over 115 MW in the last nine months in the State, which accounts for nearly 60 per cent of the total installations of 190 MW during the period. The company contributed to 233 million units to the State electricity grid in 2012.
Suzlon started with a capacity of 7.5 MW in Tirumala Tirupathi Devasthanam in 2003-2004 and now has customers such as Mytrah energy, Nalco and Indian Oil Corporation Ltd in the State.