Suzlon Energy buys five companies to execute renewable energy projects

In order to expand its footprint in the renewable energy space, Suzlon Energy has acquired five companies for an undisclosed amount. The company has acquired Gale Solarfarms, Tornado Solarfarms, Abha Solarfarms, Aalok Solarfarms and Shreyas Solarfarms to implement various renewable energy projects across the country, including the recently won solar projects in Maharashtra of 70 MW.

 The company recently repaid in cash foreign currency convertible bonds (FCCBs) worth Rs 28.8 million in principal along with 8.7 per cent redemption premium for bonds maturing this month.

Suzlon Group is one of the leading global renewable energy solution providers, with a presence in 19 countries has a cumulative installed capacity of approximately 15 Gw of wind energy. Suzlon Energy is a market leader in India with 100+ wind farms with an installed capacity of  around 9,000MW spread across 9 states.