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Suzlon looks to acquire mid-sized tech company

Suzlon Group, the world’s third largest wind power company, announced last December that they have crossed 15,000 MW of cumulative installations world wide and have 10,500 turbines covering over 1,800 customers across 25 countries.

In June this year, Suzlon Energy had said that it is looking to acquire technology companies.

According to reports, India’s dominant player in wind energy sector Suzlon Energy on Thursday said it is looking to acquire a medium-sized technology company to meet its increasing demands.

The company wants continuation of accelerated depreciation benefits for SMEs that form the largest customer base in India for Suzlon.

“Continuously we have to invest in technology,” Tulsi R Tanti, CMD of Suzlon told reporters on Thursday. “We are not looking for a large acquisition, but it will be smaller,” said Tanti. He did not divulge any details on geographies or size of the firm Suzlon is set to acquire.

The government plans to withdraw accelerated depreciation benefit that is given to wind and  solar power projects, and replace it with a generation-based incentive.

“SMEs have created a real success story in the Indian renewable sector. Why don’t we leverage it?” said Tanti indicating that accelerated depreciation benefit should  continue.

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