Suzlon Energy is planning to set up a manufacturing plant in Brazil and make the nation a hub for exporting to Latin American countries. The plant, expected to be open in 18 months, will have initial capacity of 400 megawatts a year. With the investment, the company may receive state-backed debt from Brazil’s development bank BNDES.
The Pune-based firm, which is fifth largest wind turbine manufacturer in the world with capacity of over about 6,000 MW spread across India, China, Germany, Canada, Portugal and the US, says Brazil is integral part of its long term strategy.
Brazil is one of the fastest growing markets in the world. In the medium term, Suzlon is working on meeting local content requirement as well as developing right product to compete in this market.
