Suzlon bags $300 mln order from US-based PPM Energy

New Delhi, June 29 (UNI) Country's wind turbine manufacturer Suzlon Energy Ltd today said it has received an additional 300 MW order from US-based PPM Energy for 300 million dollars.

The US utility company had earlier awarded a 400 MW order to Suzlon. The original agreement calls for delivery of 300 MW of turbine capacity in 2008 and 100 MW of capacity in 2009.

''The original order from PPM was for 400 MW which we received last month. The fresh order is for an additional 300 MW of wind turbine. The pricing for these orders is three per cent more,'' company's Chairman and Managing Director Tulsi Tanti told a TV channel.

The benefits from the order will be accrued in '08 and '09, Mr Tanti added.

''The current order book in the US market stands at 2.2 billion dollar and margins are also increasing. We expect that value and size of the US orders will increase in the near future,'' Mr Tanti said adding that 70 per cent of the topline in FY09 will be coming from the international market.

''We aim to raise operating profit margin per MW,'' he said.

Mr Tanti further said the company is also planning to foray into other markets, including South Africa, and will focus on European markets via Repower.

''We are watching rupee movement and currently have 60 per cent hedge,'' Mr Tanti said and added that capacity till FY08-end is fully sold out.

UNI