Home / Industry / Energy /  Suzlon regains top spot in wind-turbine market

New Delhi: Suzlon Energy Ltd regained its position as India’s top wind-turbine supplier as agreements with lenders allowed it to complete orders in a resurgent market.

The Pune-based manufacturer installed 403 megawatts (MW) of turbines in the year ended 31 March of a total 2,055MW, according to data compiled by the Indian Wind Turbine Manufacturers’ Association and obtained by Bloomberg News. IWTMA secretary-general D.V. Giri verified the figures.

Spain’s Gamesa Corp. Tecnologica SA climbed four spots to No. 2 with 396MW of installations, almost quadruple the previous year, according to the figures.

Turbine makers are benefiting from India’s decision in August 2013 to revive a subsidy that is helping Asia’s second-biggest wind market recover from a record 42% drop in installations in the fiscal year ended March 2013. Installations in 2014 are set to rise 35% to 2.3 gigawatts, according to Shantanu Jaiswal, a Delhi-based wind analyst for Bloomberg New Energy Finance.

Suzlon lost the top spot last year for the first time in at least a decade as it struggled to carry out orders after committing India’s biggest convertible-bond default. The company’s shares have almost tripled since January, leading gains in global wind-energy stocks, on expectation that a five-year extension on bond repayments and a new, pro-clean-energy government in India will help it recover.

Suzlon shares fell 2.3% to 29.8 in Mumbai today as of 11.48am.

Wind World (India) Ltd, formerly known as Enercon (India) Ltd, was third with 354MW. Denmark’s Vestas Wind Systems A/S, the world’s biggest wind turbine maker and one of the first to enter the Indian market, installed 80MW to retain the seventh position. Bloomberg

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