Suzlon in Talks over Its German Subsidiary
Indian wind energy manufacturer, Suzlon, is in talks over the sale of its German subsidiary Senvion, sources close to the matter revealed to Bloomberg.
Senvion, potentially worth EUR 2.11 billion, has sparked interest from Chinese companies and a large buyout fund, they have added.
Raj Kothari, a fixed-income trader at Sun Global Investments Ltd, said: “The move will give Suzlon a lifeline they needed to better their balance sheet.”
Hamburg-based Senvion SE, formerly known as Repower Systems SE, manufactures onshore and offshore wind turbines.
Recently, Senvion has erected a prototype of their 6.2M152 turbine with the biggest rotor. They are hoping the wind turbine will enter serial production this year.