Suzlon to acquire more if it adds 'strategic' value
Close to striking a deal to get German wind energy firm REpower from French rival Areva, domestic wind turbine maker Suzlon Energy on Wednesday said that it would go for more acquisition if it adds 'strategic value' to it.
By PTI |
MUMBAI: Close to striking a deal to get German wind energy firm REpower from French rival Areva, domestic wind turbine maker Suzlon Energy on Wednesday said that it would go for more acquisition if it adds 'strategic value' to it.
"Our eyes are open. If there is any good opportunity.. we will evaluate it and go for it if we find that adds strategic value to us depending on our finnacial strength," Suzlon Energy's Chairman and Managing Director Tulsi Tanti told media here on Wednesday.
"However, no company, domestic or overseas, is on our radar at the moment. We will have to digest the REpower acquisition first and then go for more," he said.
On the REpower acquisition, he said that Suzlon had a 'very satisfactory' meeting with the REpower management recently in Germany following receiving approval from BaFin, the financial markets regulator in Germany.
Stating that the wind energy market in India was growing at over 20 per cent year-on-year, Tanti said that the company, which has over 50 per cent market share, would intend to maintain the position.
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Suzlon Energy's current wind turbine manufacturing capacit stands at 2,700 MW. It is expanding capacity to the tune of 1,500 MW with a capex of Rs 750 crore, which would go on stream by January next year, he said.It is also expanding Hansen's capacity in Belgium with an investment of $180 million and in Hansen's Indian counterpart by infusing another $220 million.
Suzlon Energy acquired Belgium-based Hansen in March 2006.
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