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Andhra Pradesh seeks to cancel 21 wind energy pacts

The cancellation is despite the high court staying a July 1 notification issued by the state and July 12 letters written to various developers seeking renegotiation of power tariffs. NEW DELHI: The battle between renewable energy companies’ and Andhra Pradesh is getting intense as the state has sought cancellation of 21 wind power purchase agreements […]

India

Debt-laden Suzlon may be an attractive bet for Canadian asset manager Brookfield

July 20, 2019 Anand Gupta

Suzlon’s O&M services business is probably the biggest attraction for Brookfield Suzlon’s ownership of land parcels is another asset that a buyer will see value in MUMBAI: India’s largest wind turbine maker Suzlon Energy Ltd, once a darling of the stock markets, defaulted on payments to bondholders earlier this week, thus again leading the company […]

Featured

Suzlon defaults on $172 million bonds, may offload stake

July 18, 2019 Anand Gupta

Mumbai (Maharashtra) [India]: Renewable energy solutions provider Suzlon has failed to pay the principal amount of 172 million dollars for outstanding bonds which was due on Tuesday. The outstanding payment was part of a total bond issuance of 546.91 million dollars. “The company is working on a holistic solution for its debt and continues to […]

Featured

AP issue – Only 6 companies called for the meeting yesterday along with NTPC and SECI

July 16, 2019 Anand Gupta

AP issue: Only 6 companies I.e. Renew, Axis, MYTRAH, Greenko, Ecoren and Suzlon (Skeiron) called for the meeting yesterday along with NTPC and SECI Outcome of Yesterday meeting in AP. 1. Reduce tariff to 2.43 or terminate PPA. 2. Sell the power to other states 3. Ask centre togive financial assistance

India

Suzlon offers to sell majority stake to Brookfield for settling loans

June 24, 2019 Anand Gupta

Suzlon has offered a one-time settlement proposal to its lenders that entails potential stake sale to Brookfield that would infuse additional equity in the company. Mumbai: Suzlon EnergyNSE 10.99 % has told its lenders that Canadian investor Brookfield is keen to acquire majority stake in it, which would help the cash-strapped renewable energy company settle […]

India

Suzlon may default on Rs 1.2k-cr FCCBs due July

June 11, 2019 Anand Gupta

Mumbai: Suzlon, India’s largest renewable energy solutions provider, is staring at a default of Rs 1,205 crore on repayments of foreign currency convertible bonds (FCCBs), which are due for redemption next month. The Pune-based company is facing the liquidity crisis as it has no resolution plan in place. Suzlon had planned an equity transaction with […]

India

Dilip Shanghvi hasn’t given up on Suzlon yet, says he will keep the stake

May 9, 2019 Anand Gupta

In 2015, Shanghvi bought 23 percent stake in Suzlon for Rs 18 billion, helping the company to return to profitability after it became India’s largest convertible-bond defaulter in 2012. Despite witnessing degrading financial health year after year, Indian billionaire Dilip Shanghvi is not yet ready to give up on renewable-energy major Suzlon Energy. In an […]

India

Dilip Shanghvi to keep Suzlon stake despite falling value

May 9, 2019 Anand Gupta

Dilip Shanghvi proved a white knight for Suzlon in 2015 when he bought 23% stake for ₹1,800 crore Suzlon still hasn’t exited debt-restructuring program, missing deadlines since 2017 SUN PHARMA: Billionaire Dilip Shanghvi intends to stay invested in unprofitable wind-turbine maker Suzlon Energy Ltd. even though the company’s financial health has worsened over the last few […]

Business & Finance

Suzlon Energy sells two solar farms to ReNew Power

April 10, 2019 Anand Gupta

Renewable energy solution provider Suzlon Energy Ltd said that it has sold two of its solar farms — Shreyas and Aalok — to Ostro Energy Pvt Ltd, a wholly owned subsidiary of ReNew Power Services Ltd. “The company has received an aggregate consideration of Rs 10.13 crores on the sale of 26% of its existing […]

India

Rajasthan seeks Gujarat help for renewable power push

January 31, 2019 Anand Gupta

Rajasthan’s Congress-led government is impressed by PM Narendra Modi’s home state Gujarat’s frog leap in the renewable energy sector. The neighbouring state has, therefore, sought help from Gujarat government for guidance in renewable energy development and delegation from Rajasthan is likely to visit Gujarat next week. High-level sources from Gujarat government informed, “Rajasthan government is […]

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