The Tulsi Tanti family, promoters of wind turbine company Suzlon Energy, has sold its wind power firm Super Wind Projects to Kolkata-based Techno Electric and Engineering Company for around Rs 250 crore. Super Wind Projects, a privately-owned business of the Tanti family, has wind power assets having generation capacity of 45 mw, which was commissioned a few months ago. The assets are located in Tamil Nadu and Karnataka.
It’s like any other business transaction for the promoters and does not involve significant amount. The transaction was done at the market rate, which was then prevailing at Rs 6 crore per mega watt.
Suzlon, as a group, has been looking to raise money to reduce debt levels and fund expansion plans, besides ensuring flexibility in cash flows. In July this year, the company had announced its plan to raise $400 million through the issue of either ADRs or GDRs. The $5.4-billion Suzlon Energy is the largest wind turbine manufacturer in
