Suzlon secures Rs 1,190 cr order from JDWE

New Delhi, Sep 18: Leading wind turbine manufacturer Suzlon Energy Ltd (SEL) has for the third consecutive year, bagged a contract worth Rs 1,190 crore from US-based John Deere Wind Energy (JDWE), to supply 247 MW in wind turbine capacity.

The order was secured by Suzlon Wind Energy Corporation, a Chicago-based subsidiary of Denmark-based Suzlon Energy A/S, which is an international business arm of SEL.

The contract, consisting of 30 units of S64-1.25 MW turbines and 100 units of S88-201 MW turbines, will be delivered by mid next financial year, SEL Chairman and Managing Director Tulsi R Tanti told reporters today.

The company's order book stands at Rs 5,777 crore this fiscal, of which 50 per cent will be executed in FY07 and the remaining by July-August next year, Mr Tulsi informed media persons here.

The consolidated order book position of the company is at 1,023 MW, including 207 MW to India (Rs 800 crore), 140 MW to China (Rs 486 crore), 61 MW to Europe (Rs 345 crore), 95 MW to Australia (Rs 646 crore) and remaining 520 MW to the US at Rs 3,500 crore.

The company is also looking at foraying into Brazil, France and Greek markets for which negotiations are underway.

John Deere Wind Energy, a Fortune 100 company, has global market share of 22 billion dollars across 150 countries. With this order, its wind turbine capacity will reach 530 MW.

Currently, SEL is executing two foundry forging and machining plants at Vadodara and Coimbatore with an investment of Rs 750 crore, along with another 1,500 MW plant of the same value at Udipi, said Mr Tanti.

He said of the total Rs 1,500 crore projects, Rs 500 crore will initially be invested through its own accruals and remaining Rs 1,000 crore will be raised through term loans. The projects will be completed by mid of next financial year.

Mr Tanti informed that SEL's last year business was 900 MW, adding that currently, SEL has a capacity of 4,200 MW by June, next year.

UNI