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Suzlon Energy Ltd
Suzlon Energy (BSE: 532667) is a wind power company in India. In terms of market share, the company is the largest wind turbine manufacturer in Asia (and the 3rd largest worldwide). In terms of net worth, it is the world's most valuable wind power company. With headquarters in Pune, it has several manufacturing sites in India including Pondicherry, Daman, Bhuj and Gandhidham as well as in mainland China, Germany and Belgium. In India, the company has been the market leader for eight years consecutively, installing 53% of the capacity added in 2005.
Suzlon offers customers total wind power solutions including consultancy, manufacturing, operations & maintenance services. Suzlon is a multinational company with offices, R&D and technology centers, manufacturing facilities and service support centers spread across the globe.
With the increasing demand and the advantage of being an end-to-end solution provider in its field of activity, Suzlon plans to increase its presence within India, and around the world. It already has a presence in over 40 locations around the world – including Australia, China, Europe, India, New Zealand, South Korea and the USA.
Suzlon has design and R&D teams and facilities in Germany, India and The Netherlands to retrofit blades for clients. The international sales business of Suzlon is managed out of Aarhus, Denmark, while its global management office is in Amsterdam.
Suzlon Rotor Corporation in 2006 began producing the blades in Pipestone, Minnesota in the United States. Among its clients is Wind Capital Group.
In the year 2006, Suzlon reached a definitive agreement for acquisition of Belgium firm Hansen Transmissions, specializing in gearboxes for wind turbines, for $565 million. In 2007, the company purchased a controlling stake in Germany's REpower which valued the firm at US$ 1.6 billion.
In June 2007, Suzlon had signed a contract with Edison Mission Energy (EME) of US for delivery of 150 wind turbines of 2.1 MW in 2008 and a similar volume to be delivered in 2009. EME had an option not to purchase the 150 turbines due to be delivered in 2009, which it has chosen to exercise.
In November 2009, the company decided to sell 35% stake of Hansen through placing new shares. It appointed Bank of America Merrill Lynch and Morgan Stanley as the managers and book runners for the same.
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