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INDIA'S SUZLON ENERGY TO SET UP INNOVATION CENTRE IN DENMARK.

AsiaPulse News

| August 01, 2006 | COPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

MUMBAI, Aug 1 Asia Pulse - The Rs 37 billion (US$794 million) wind energy major, Suzlon Energy Limited (SEL) will be fund its Rs 15 billion capacity expansion from the present 1,500 MW to 4,200 MW, scheduled to be completed by next June, entirely through internal accruals and debt, in addition to the US$90 million already invested in its China and US facilities.

SEL will also be setting up an innovation centre in Denmark, which will focus on concepts beyond design and development-related R and D such as materials technology, logistics costs and management areas and technology innovations for its turbines.

"We have Rs 5 billion left over from our IPO and the remaining Rs 10 billion will be raised through debt. There is no plan to tap equity for the next one year," SEL's chairman and managing director Tulsi R Tanti said ...

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Source: HighBeam Research, INDIA'S SUZLON ENERGY TO SET UP INNOVATION CENTRE IN DENMARK.

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