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 […]
Dilip Shanghvi to keep Suzlon stake despite falling value
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 […]
Suzlon Energy sells two solar farms to ReNew Power
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 […]
Rajasthan seeks Gujarat help for renewable power push
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 […]