Suzlon Energy has signed a Share Purchase Agreement (SPA) with Skeiron Renewable Energy for sale of its stake in Shanay Renewables and Saroja Renewables, subsidiaries of the company, to Skeiron Renewable Energy.
This is part of the trade practice of forming Special Purpose Vehicles (SPVs) for setting-up of wind turbine projects and selling them to the customers. The SPVs are having no assets and no liabilities.
Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.