Small BusinessSuzlon bags 27 MW wind power order from ITC
Wind turbines manufacturer Suzlon Energy today said it has bagged an order from conglomerate ITC for supplying 27 MW of wind power turbines to projects in Karnataka and Maharashtra for an undisclosed amount.
- Indiabulls Financial reduces stake in Suzlon to 0.06% - Old highs may be tested - Telangana takes zing off revelry - Markets snap 4-day winning streak - Reverse swing at Kotla - Expect moderate returns in 2010
The Karnataka project would add 21 MW of capacity from 10 units of Suzlon"s S88 2.1 MW turbines, while the Maharashtra project would add 6 MW of capacity from four units of Suzlon"s S-82 1.5 MW turbine, totalling to 27 MW, wind power major said in a filing to the Bombay Stock Exchange.
Suzlon did not reveal financial details of the order.
"This order underlines ITC"s experience with Suzlon in their existing projects, and Suzlon"s value proposition to investors. We are keen on continuing this partnership for responsible and sustainable business to help achieve ITC"s organisational goals on sustainability," Suzlon Energy President (Business Development, India) I C Mangal said.
These orders follows earlier wind projects commissioned by the company in Tamil Nadu and Maharashtra for ITC. With these orders ITC"s wind portfolio increases to 47.1 MW.
"The agreement with Suzlon for the establishment of two new wind power projects is a part of ITC"s commitment to pursue a low-carbon high-growth strategy and progressively increase its use of renewable energy sources," ITC Divisional Chief Executive Tobacco Division Sanjiv Puri said.
ITC operates in cigarettes, hotels, packaging, agri-business, packaged foods, and other FMCG products.
Shares of Suzlon Energy were trading at Rs 90.50 on the BSE, up 0.17 per cent from its previous close.