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Ming Yang expects India to be a huge overseas market


Ming Yang in their most recent earnings call noted that the DNV-GL certificate for Ming Yang 1.5 megawatt-89 meter WTGs was a driver to enter the India market and that it believed that India would  be a huge overseas revenue source  in the future. China Ming Yang Wind Power Group Ltd. (MY) won a 150-megawatt order in India last December, after becoming the first Chinese turbine maker to receive approval to sell machines in Asia’s second-biggest wind market as sales ... Read More »

Suzlon to raise Rs 4,000-crore from equity market this fiscal to pare debt


According to reports, with an estimated order book of $7 billion, the company expects revenues to touch Rs 2,700 crore by current fiscal end  . Suzlon Energy Ltd (SEL), after facing a rough weather including withdrawal of accelerated depreciation and non-extension of generation-based incentives (GBIs), has now turned the bend after eight quarters and reported positive EBITDA of Rs 73 crore in the first quarter of this fiscal (2014-15) with a strong order book of 4.9 GW. The order book ... Read More »

Suzlon to rebalance capital structure by March


According to reports, wind turbine maker Suzlon Energy Ltd plans to partially replace high cost rupee debt worth about Rs.9,000 crore with less expensive foreign funds in the current fiscal to rebalance its capital structure. Suzlon, which has completed its operational restructuring efforts, is also betting on improved business conditions to bolster its fortunes. “We expect to complete financial restructuring this fiscal. We are looking to re-balance the capital structure,” Suzlon group head of finance Kirti Vagadia told reporters over ... Read More »

Suzlon Seeks Japanese Partner to Tap Offshore Wind Market


According to reports, India’s Suzlon Energy Ltd. (SUEL) may seek a Japanese partner to make offshore wind turbines, attracted by access to cheap yen loans as projects at sea get costlier and more complex. Suzlon, whose German unit Senvion SE is the third-biggest supplier of offshore turbines, is in talks with Japanese companies about forming a potential joint venture, Suzlon Chairman Tulsi Tanti said in an interview in Mumbai this week. “This type of business is very capital-intensive so you ... Read More »

AMSC Receives $15 Million Follow-On Order


AMSC (Nasdaq:AMSC), a global solutions provider serving wind and power grid industry leaders, today announced that it has received a $15 million order for wind turbine electrical control systems (ECS) from Inox Wind Limited, part of India’s Inox Group of Companies. The Company expects the majority of shipments under this contract to occur during fiscal year 2015. This is the seventh order that AMSC has received from Inox since the company began volume production of its 2 megawatt (MW) wind ... Read More »

Tulsi Tanti plans $665 mn Senvion bond sale in Suzlon revamp bid


According to reports, Suzlon Energy Ltd’s Senvion SE unit is preparing to raise about €500 million ($665 million) in a bond sale this year to fund a takeover of the parent’s global business servicing wind turbines. The plan intends to make Hamburg-based Senvion, the third-biggest maker of offshore wind turbines, more attractive to investors ahead of a proposed listing, Suzlon Group chairman Tulsi Tanti said in an interview in Mumbai. Deutsche Bank AG and Royal Bank of Canada are arranging ... Read More »

Power shortage again as energy from wind dips


According to reports, after enjoying continuous power supply for nearly a month, several parts of Tamil Nadu, including Chennai, experienced outages as wind energy dipped below 20MW. The peak shortage on Monday evening and Tuesday morning ranged between 344MW and 453MW despite increased generation from state-owned power plants. Sources in the Tamil Nadu Electricity Board said power problems faced by residents in Chennai were mostly due to local transmission glitches. “The outages in the city could be attributed to isolated ... Read More »

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