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Suzlon Energy eyeing to make REpower Systems it’s 100% owned subsidiary

22 Jul 2011 Evaluate

Suzlon Energy, the world’s fifth largest wind turbine manufacturer is eyeing to make Germany's REpower Systems its 100% wholly owned subsidiary as the company is planning to buyout the balance 4.8% shares for euro 63 million. REpower in its annual general meeting which is scheduled for September 21, would seek shareholder approval for the stake sale.

In April, Suzlon Energy raised its holding in REpower to 95.16% from 90.5% and initiated the process to squeeze out minority shareholders. Suzlon Energy’s subsidiary - AE-Rotor Holding has communicated its offer to buy the balance stake in REpower Systems at euro 142.77 a share to the latter's executive board.

Recently, Suzlon Energy had received an order from Orient Green Power Company (OGPL) for over 100 megawatts (MW) of wind power projects. The order was valued worth Rs 650 crore, comprises 48 units of Suzlon’s S95 wind turbines, part of Suzlon’s newly introduced S9X suite. These projects are scheduled to be commissioned progressively by June 2012, with 50.4 MW of capacity coming online in Gujarat by May 2012, and the remaining 50.4 MW in Karnataka by June 2012.

Suzlon Energy Share Price

53.30 -1.68 (-3.06%)
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