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Suzlon zooms on selling 240 MW Big Sky Wind Farm to EverPower

09 Apr 2014 Evaluate

Suzlon Energy is currently trading at Rs. 14.82, up by 0.86 points or 6.16% from its previous closing of Rs. 13.96 on the BSE.

The scrip opened at Rs. 14.75 and has touched a high and low of Rs. 15.02 and Rs. 14.50 respectively. So far 3647778 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 15.10 on 22-Apr-2013 and a 52 week low of Rs. 5.72 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 15.02 and Rs. 11.00 respectively. The current market cap of the company is Rs. 3674.99 crore.

The promoters holding in the company stood at 39.19% while Institutions and Non-Institutions held 29.15% and 31.38% respectively.

Suzlon Group, the world’s fifth largest wind turbine manufacturer, has strategically sold the 240 MW Big Sky Wind Farm in Illinois to EverPower Wind Holdings. Suzlon Group had recently acquired the Big Sky wind farm from Edison Mission Energy via their fully owned US-based subsidiary Suzlon Wind Energy Corp (SWECO).

Suzlon Group has signed a definitive agreement with EverPower to sell the project located in Illinois, about 95 miles west of Chicago. This acquisition of Big Sky by EverPower makes it the nation's 18th largest wind generator, with a combined capacity of 752MW in the US in winder power generation.

Suzlon Group comprises of Suzlon Energy and its subsidiaries, including Repower Systems SE. Suzlon Energy is leader in wind energy in the India, which is world’s fifth largest wind energy market. Its business model has range of services that include development, manufacturing, marketing, EPC project delivery and operations and maintenance of wind turbine generators around the world.

Peers
Company Name CMP
Waaree Energies 2342.00
Apar Industries 18105.85
Havells India 1052.00
Suzlon Energy 38.94
Siemens 3707.40
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