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Showing posts from December, 2009

Suzlon repays $780-m acquisition loan

Suzlon Energy Ltd, the world’s third largest wind turbine group, on Friday announced BSE that the company has completed the payment of its entire outstanding acquisition loan facility of about $780 million. The payment was made from the proceeds of a partial stake sale in Hansen Transmissions International NV in addition to a new five-year loan of $465 million from SBI. The process has also enabled the company to achieve a net reduction in overall debt by about $350 million. In addition, Suzlon has also achieved significant progress in the consolidation and refinancing of existing rupee denominated term loans and working capital loans through new debt facilities from a syndicate of banks.
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Jindal Power lines up Rs 65k-cr new projects

Jindal Power on Friday said it will invest Rs 65,000 crore in new power projects and part of the financing for these would be done through its up to Rs 10,000-crore Initial Public Offer. The company, part of Jindal Steel and Power Ltd group, would create fresh thermal capacity of over 4,400 MW and hydel capacity of 6,100 MW, with the commissioning of projects starting from 2014. “We need internal financial of Rs 15,000 and the rest would come through debt for financing the projects. “All this IPO money will primarily go to our expansion programme and the balance would be funded from our internal accruals,” the Jindal Power Deputy Managing Director, Mr Sushil Maru, told PTI a day after the company’s board decided for the IPO. As of now, the company, with a net worth of over Rs 7,000 crore, is generating surplus funds of about Rs 1,500 crore, he said, adding “finances would not be a problem at all.” The company plans to fund the projects in the debt-equity ratio of 70:30. Besides, the c
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Suzlon bags contract from Rajasthan State Mines

Suzlon Energy Ltd, the world’s third largest wind turbine maker with 12.3 per cent of global market share, announced BSE on Wednesday that the company has secured a seventh order for 31.5 MW capacity from Rajasthan State Mines and Minerals Ltd (R SMML). According to Suzlon, the 31.5-MW order is the biggest order for the S88-2.1 MW turbines for installation in Rajasthan, and the project once complete is estimated to generate enough electricity to power over 6,000 households. It will also increase RSMML’s total wind portfolio to 106 MW.
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