BackSuzlon Energy to invest Rs100 cr in retrofit programme in US
Suzlon Energy to invest Rs100 cr in retrofit programme in US
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Mumbai: Wind power major Suzlon Energy on Monday said it will invest about Rs100 crore for strengthening the blades in some of its turbines in the US.
A provision for this expenditure would be made in the fourth quarter of FY’08 and the project would be completed over a period of six months, the company informed the Bombay Stock Exchange.
“We have a close working relationship with our customers, and this programme is a proactive measure to safeguard the interest of all our stakeholders, Suzlon Group CEO Andre Horbach said.
The project involves a retrofit programme involving the structural strengthening of 1,251 blades on S-88 (2.1 MW) turbines. Of these, 930 blades have been installed, while the remaining blades are in transit or inventory, the company said.
“We are in close contact with all our customer and are keeping them fully informed of the progress. We expect no impact on the order and execution pipeline," Horbach added.
Shares of the firm were trading at Rs266.70, down 5.19% on the BSE.
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