Suzlon signs pact with Caparo to build projects

Posted By: Rama Mohan
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Mumbai, Jan 28: India's largest wind power turbine manufacturer Suzlon Energy Limited has announced on Friday, Jan 28, that it has it has signed an agreement with Caparo Energy India for constructing a wind power projects worth about $1.28 billion.

The deal is Suzlon's largest single order, the company's Chief Financial Officer Robin Banerjee said. Caparo Energy India is wholly owned subsidiary of AIM listed Caparo Energy.

By March 2012, the project's first 500 MW will be completed, and the remainder by March of the next year, Suzlon said in a statement.

"This has been a strong year for wind in the Indian power market. Building on strong, transparent policy frameworks we now have a mature, attractive market. With large players like Caparo entering the market, we are also seeing large wind independent power producers in India becoming a major force," founder and chairman of Suzlon Group Tulsi R Tanti said.

The company's stock, which had closed at Rs 50.20 on Thursday, on Friday rose to Rs.51.25, on the news of the order but fell in the afternoon.

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