Suzlon Energy has reportedly divested 49% stake in solar power projects totaling 210 mw and is in advanced talks to sell stake in another 130 mw projects in a deal that the company aims to close before March. The company had divested 49% in six projects totaling 210 mw to raise Rs 176 crore. Further stake sale could potentially fetch the company another Rs 110 crore.
The company had announced its foray into the solar power sector in January 2016 by bagging orders worth 210 mw from state utilities in Telangana. Subsequently, the company built a portfolio of solar power projects totaling 515 mw. It has already signed power purchase agreements for 340 mw.
Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.