Suzlon Energy sells wind power co for Rs 250 cr

THE Tulsi Tanti family, promoters of wind turbine company Suzlon Energy, has sold its wind power firm Super Wind Projects to K o l k a t a - b a s e d Techno Electric and Engineering Company for around Rs 250 crore. Super Wind Projects, a privately-owned business of the Tanti family, has wind power assets having generation capacity of 45 mw, which was commissioned a few months ago. The assets are located in Tamil Nadu and Karnataka. 
    Repeated calls to Tulsi Tanti went unanswered, and a Suzlon Energy spokesperson declined to comment on the development, saying the transaction pertains to the asset owned by the Tanti Family and is not related to the company. An e-mail query on the transaction value sent by ET to public listed firm Techno Electric did not elicit any response. But the engineering, procurement and construction (EPC) services provider Techno Electric & Engineering had recently informed BSE about its move to acquire 100% ownership of Super Wind Project without giving details of the transaction. 
    A person privy to the transaction said, "It's like any other business transaction for the promoters and does not involve significant amount." He added that the transaction was done at the market rate, which was then prevailing at Rs 6 crore per mega watt. 
    Suzlon, as a group, has been looking to raise money to reduce debt levels and fund expansion plans, besides ensuring flexibility in cash flows. In July this year, the company had announced its plan to raise $400 million through the issue of either ADRs or GDRs. 
    The $5.4-billion Suzlon Energy is the largest wind turbine manufacturer in Asia and has installed capacity of more than 7,000 mw worldwide.

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