Suzlon acquires five firms to execute renewable energy projects – Feedback

Suzlon Energy Ltd, in its attempt to increase its presence in India’s renewable energy sector, has acquired Gale Solarfarms Private Limited, Tornado Solarfarms Private Limited, Abha Solarfarms Private Limited, Aalok Solarfarms Private Limited and Shreyas Solarfarms Private Limited.

In its BSE filing, the company said the acquired firms will implement various renewable energy projects across the country, including the recently won 70 Mw solar projects in Maharashtra. ”These companies, which have been acquired at face value, do not have any operations or assets currently and have been acquired primarily to be used as SPVs for the proposed solar projects,” said the company.

http://www.business-standard.com/article/companies/suzlon-acquires-five-firms-to-execute-renewable-energy-projects-116041900614_1.html

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