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Suzlon’s Subsidiary Bags Rs.3.67 billion Contract From Wind Major

Suzlon Energy Ltd. said its group subsidiary Seforge Ltd. announced a key purchase agreement with a leading wind turbine manufacturer for the supply of machined tower flanges, used for wind towers, over a period of there years.

The Rs.367 crore ($75 million) contract covers supply of flanges for wind turbine towers for projects in India and international markets.

Suzlon Group Chairman Tulsi Tanti said, “This is a very important order that underscores our collaborative relationship with other major wind turbine companies the world over. Wind has today achieved parity with most conventional sources of energy, beating even gas in per-unit cost in some markets’ and it is projected that the 2015 wind will be truly competitive against even coal-based power. With wind contributing a mere three percent to the world’s energy grid today, we as an industry has a enormous opportunity before us to become a central pillar of the energy mix of the future.”

Commenting on the agreement,Seforge CEO Kamlesh Bhadani said, “This agreement underscores our ability to deliver components that meet the exacting standards of the global wind industry. This agreement, alongside recent agreements with other tower manufacturers and a large European bearing producer, highlight Seforge’s growing presence as an independent part supplier to wind and related industries. We project that by FY13 50 percent of the our sales will be from companies outside the Suzlon Group.”

Seforge operates a forging facility capable of producing seamless forged rings of maximum diameter of 5.2 meters, with an annual capacity of between 40,000 to 60,000 rings at Vadodara, Gujarat. It has established itself as a key supplier to all major wind turbine manufacturers in India for the supply of forged rings used in wind turbine towers and bearings.

The three long-term agreements signed by Seforge in the last few months together will consume around 40 percent of Seforge’s forging capacity for the next three years.

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