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Finland’s Wartsila says it has no JV with Caparo Group

Suzlon was rumored to have been in advance talks with Caparo group to develop wind farms of 3000MW  of wind farms for them most of them in India. The report further mentioned that Caparo Energy was a joint venture company between Caparo and Wartsila (WRT1V.HE: Quote, Profile, Research). Wartsila has now denyed the report.

Panchabuta had indicated that Suzlon was believed to have been in discussions recently with Wartsila to develop hybrid solutions to provide  infirm power to the grid.

Finland’s Wartsila says it has no JV with Caparo Group

Thu May 13, 2010 10:00am IST

MUMBAI, May 13 (Reuters) – Finnish engineering group Wartsila (WRT1V.HE: Quote, Profile, Research) has said it has no joint venture with London-based Swraj Paul’s Caparo Group, denying a newspaper report linking the two firms.

The Economic Times had reported last week that Indian turbine maker Suzlon Energy (SUZL.BO: Quote, Profile, Research) was in talks with the UK group to build wind farms for Caparo Energy, saying it was a joint venture with the Finnish company. [ID:nSGE64602T]

“Wartsila has not formed any joint venture with Caparo Group named Caparo Energy India. Wartsila is not a business partner with Caparo Group for a wind-based power plant,” the Finnish group’s public relations agency in India said in a statement. Suzlon declined to comment on the Economic Times report.

“Suzlon speaks with a range of people about all aspects of its business and product offerings every day. As a rule we do not comment on market rumours or speculation,” the company said.

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