Suzlon sells 75% in China arm for $28 mn

Suzlon today said it has sold 75 per cent stake in its Tianjin-based China arm to Poly LongMa Energy for $28 million (over Rs 177 crore),after putting it on block for more than a year

Debt-laden wind turbine maker Suzlon today said it has sold 75 per cent stake in its Tianjin-based China arm to Poly LongMa Energy for $28 million (over Rs 177 crore),after putting it on block for more than a year.

Suzlon had entered China,the worlds largest wind energy market,in 2006. This divestment is a part of Suzlons strategy to monetise assets as it battles huge debt.

Suzlon,the worlds fifth largest wind turbine maker with over 22,500 MW installed capacity in over 30 countries,had expected a valuation of $60 million when it had put Suzlon Energy Tianjin on the block. Suzlon in a statement said the first tranche of the payment has already been completed.

With this,we monetise an asset we have built up from 2006,and through our partner,Poly LongMa Energy,maintain our strong presence in the worlds largest market,which remains strategically important for us, Suzlon chairman Tulsi Tanti said.

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From Discord messages to rifle, what evidence does FIB have against Tyler Robinson in Charlie Kirk murder

Charlie Kirk death: What evidence does FBI have against arrested suspect Tyler Robinson

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22-year-old Tyler Robinson from Utah has been arrested by the FBI for the murder of conservative influencer Charlie Kirk. Utah Governor Spencer Cox and FBI Director Kash Patel are confident in their case against Robinson after a family member came forward with information about his involvement. Cox thanked the family for doing the right thing.

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