Suzlon to sell windfarms for $40 mn

The transaction is scheduled to conclude next month,Suzlon indicated.

Written by Agencies | New Delhi | Published: April 4, 2012 1:00:53 pm

Wind turbine maker Suzlon Energy today said it would sell a block of its windfarm assets for USD 40 million (Rs 200 crore).

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“Suzlon Group announced the sale of a block of wind assets for approximately USD 40 million,” the company said in a statement to the BSE.

The windfarms are located across India,with a majority of the assets in Tamil Nadu,Suzlon said.

The transaction is scheduled to conclude next month after completion of due diligence and requisite approvals,it added.

“We are divesting in certain non-core assets and are set to raise approximately USD 40 million as per our plan outlined in February this year,” Kirti Vagadia,Chief Financial Officer Suzlon Group said.

Shares of the company were trading at Rs 25.20,down 1.75 per cent,on BSE.

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