Suzlon to sell 10% in Hansen for Rs 600 crore

By Narsi Santhanam • Jan 3rd, 2009 • Category: wind

Suzlon Energy, the world’s fifth largest wind turbine maker, will sell 10 per cent of its stake in Belgium-based subsidiary Hansen Transmission for nearly Rs 600 crore, to funds managed by Ecofin, a London-based specialised investment firm.

The company will use majority of the proceed to fund its acquisition of stake in another Suzlon subsidiary, Germany based REpower Systems AG. The balance will be used for Hansen’s expansion plans in India and China, said sources close to the development.

About the Author

Narasimhan (Narsi) has extensive experience in understanding renewable energy markets and strategic levers for success in these markets. His special focus has been his work on the Indian renewable energy industry. His work in the previous 15 years have spanned market and industry research, product management and international sales, and strategic consulting. see more http://www.eai.in/ref/team/ns.html

More details about the author is available here