Suzlon Group signs contract with Maia Eolis for 250MW wind farm in France

SUZLON

Suzlon Group signs contract with Maia Eolis for 250MW wind farm in France

By Greentech Lead Team: Wind power major Suzlon Group
subsidiary REpower Systems has finalized a contract with Maïa Eolis for
supplying up to 250 MW for onshore wind farms in France.

The contract comprises REpower’s turbines – the MM82 and
MM92 – with a power of 2 MW, and the new REpower 3.4M104 and the 3.2M114 with
3.4 and 3.2 MW rated power respectively. The 3 MW series is the company’s
latest onshore development for sites with medium to low wind speeds.

“We are delighted that Maïa Eolis has confirmed REpower
as strategic provider for wind turbines in the coming years. This agreement is
the start of the breakthrough of the REpower 3.XM series in France, after the
successful ramp-up in other European markets. Moreover, our 3.XM series ideally suits the conditions on the French
wind market,” said Andreas Nauen, CEO, REpower Systems SE.

Recently, Tulsi Tanti, chairman of Suzlon Group, said
that its financial performance in 2011 has shown consistent improvement on all
parameters.

Suzlon Group achieved revenues of Rs 21,660 crore with a
year-on-year growth of over 30 per cent. The company’s booked orders stood at
over $5.6 billion.

During Q3 2011 the company posted a cash profit of Rs 26
crore, against a net loss of Rs 286 crore, which was primarily due to certain
non-cash items like international deferred tax liabilities of Rs 121 crore and
depreciation of Rs 170 crore.

Recently, Suzlon Group reported order backlog of 5,755
MW. The Group secured order inflows of 2.85 GW in the first nine months of
FY12, with approximately 1.5 GW in Q3 FY12 alone; compared to 1.35 GW of
inflows in all of H1 FY12. Over 50 per cent of new orders came from repeat
customers.

Suzlon Group subsidiary SE Forge also won a major order
worth $121 million from a large bearings manufacturer, and secured major
contracts with two large wind players. A strong mix of orders between emerging
and developed markets, from an increasing share of large utilities and investors,
creates robust visibility into FY13.

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