Shareholders have approved all the resolutions by Postal Ballot Stakeholders demonstrate confidence in the Company by confirming to equity infusion Company to slowly begin operations as restrictions of the lockdown are eased Pune, India: Suzlon Group, India’s largest renewable energy solutions provider, announced the outcome of its Extra-ordinary General body Meeting (EGM). J P […]
Suzlon Energy’s total debt at Rs 14,262 cr, includes FCCB worth Rs 1,376 cr
The company’s total outstanding borrowing from banks or financial institutions is Rs 12,885.75 crore, according to a regulatory filing by Suzlon. Suzlon Energy on Tuesday said its debt as on March 31 stood at Rs 14,262.06 crore, which also includes outstanding foreign currency convertible bonds worth Rs 1,376.30 crore (around $172 million). The company’s total […]
SBI unanimously approved the restructuring of Suzlon Energy’s Rs 14,000-cr debt
The company is working on finalising various definitive agreements with the lenders, it told BSE The State Bank of India (SBI)–led consortium has unanimously approved the restructuring of Suzlon Energy’s Rs 14,000 crore worth of debt, the company said in a filing with the BSE. “The company is working on finalising various definitive agreements with […]
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 […]
Debt-laden Suzlon may be an attractive bet for Canadian asset manager Brookfield
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 […]
Suzlon defaults on $172 million bonds, may offload stake
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 […]
AP issue – Only 6 companies called for the meeting yesterday along with NTPC and SECI
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
Suzlon offers to sell majority stake to Brookfield for settling loans
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 […]
Suzlon may default on Rs 1.2k-cr FCCBs due July
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 […]
Dilip Shanghvi hasn’t given up on Suzlon yet, says he will keep the stake
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 […]