As part of its turnaround plan, Suzlon Energy is reportedly all set to refinance around Rs 4,500 crore of its debt in FY15. Last month, the company's international bond holders agreed on a cashless restructuring of $485 million bonds, two years after the company defaulted in paying one set of bond holders.
Meanwhile, the company is planning to list its European subsidiary Senvion. The company is estimating a valuation of about Rs 16,000 crore for Senvion and 25 per cent dilution could generate about Rs 4,000 crore.
The restructuring has come as a breather for the company, which has been making a loss since FY10 with its business impacted by slowdown, removal of tax concessions for wind power in India, high interest burden and stiff competition from Chinese companies.
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.
