Wind turbine maker Suzlon Energy plans to add 1,500 megawatt of power capacity. Out of this 1,500 megawatt, 500 megawatt will be wind and solar, the hybrid solution. Speaking ahead of Vibrant Gujarat Global Summit 2017, Tulsi Tanti, Chairman & MD of Suzlon Energy spoke to CNBC-TV18’s Ritu Singh and said that the total investment would be around Rs 10,000-11,000 crore spread over 3 years and would help generate 1,500 jobs.
Tanti added that company has reduced 50 percent of the debt last year and are very comfortable with the current debt situation. The company has foreign debt of USD 650 million which is to be repaid by 2023. He added that the company is generating good cash flows and grew at 50 percent last year and hoped to maintain good growth momentum this year. The current debt of the company is around 7,000-8,000 crore and the payment of debt is going, according to the schedule.
Tanti added that company is in the final stages of discussion with the banks from exiting the corporate debt restructuring (CDR) and hoped to exit from CDR this financial year.