Skip to main content

Suzlon Energy to foray into solar power

Suzlon Energy on Monday said it is foraying into solar energy.

“We are exploring the solar energy sector as India has enormous opportunity in solar and wind power,'' Suzlon Energy Chairman and Managing Director Tulsi R Tanti told reporters on the sidelines of the India Economic Summit.

The company has established sites for developing solar power plants. “We have identified sites in Gujarat and Rajasthan,'' he said, adding that roughly 10 acres of land is required for one MW solar power generation. He, however, declined to give other financial details.

The current order book of Suzlon Energy stands at Rs 10,000 crore for projects worth 2,500 MW.

Amid the global economic slowdown, the company may defer its recruitment plans till the end of the current fiscal.

The company's net profit declined by 95.22 per cent to Rs 16.98 crore for the second quarter ended September 30, over the corresponding period a year ago. The company had a net profit of Rs 355.56 crore in the second quarter last fiscal. Total income r ose to Rs 2,234.47 crore for the quarter under review, from Rs 1,594.57 crore for the same quarter last year.

Suzlon Energy has dropped plans to invest in new tower manufacturing facility and, accordingly, the total capex plan would stand reduced by Rs 669 crore.
Labels:

Comments

Post a Comment

Popular posts from this blog

Jyoti Structures bags Rs 253 cr worth orders

Jyoti Structures on Tuesday said it has bagged two orders worth Rs 253 crore from Uganda Electricity Transmission Company Ltd and Eskom Enterprises (Pty) Ltd for construction of transmission lines. The company has bagged Rs 160-crore order from Uganda Electricity Transmission Company Ltd for construction of transmission lines and sub-stations. Besides, the company's joint venture company Jyoti Structures Africa (Pty) Ltd has bagged a contract for Eskom Enterprises (Pty) Ltd, the electricity utility of South Africa for construction of transmission line. The scope of the order from Uganda Electricity Transmission Company includes supply and erection of Bujagali Interconnection Project, the manufacturer of transmission line towers informed the Bombay Stock Exchange. The contract valued at around $39.64 million (Rs 160 crore) is to be executed in 24 months, the company said, adding the company would construct 220 kV and 132 kV transmission lines and substations.
Post a Comment
Read more

Banking stocks take severe hit

(The Hindu Business Line 1st April 2008) Stocks in the banking sector took a severe hit on Monday, leading the market fall. The BSE Bankex was down a 5.89 per cent, sliding more than the Sensex which declined by over 4 per cent. In the bear run in the recent weeks, the BSE-Bankex index has been the hardest hit; it has shed close to 2400 points in the last one month. Inflation figures are a big cause for worry for the banking sector as a whole, said analysts. Inflation has shot up to 6.68 per cent, its highest in more than a year. “With such high inflation figures, the chances of a reduction in the interest rates have become even less. The buzz in the market is that this might lead the RBI to hike the CRR rate to curb inflation,” said Ms Anita Gandhi, Head Institutional Business, Arihant Capital Markets. Another reason, marketmen said, is that the cues for growth in the fourth quarter for banks seem weak. “In the third quarter, the banks declared good profits, but we will see a reversal...
1 comment
Read more

Diwali bang: Reliance Ind offers 1:1 bonus, interim of Rs 13

Reliance Industries Ltd announced a 1:1 bonus share issue, the first time in 12 years. According to a proposal approved by the RIL board on Wednesday, all shareholders will get one free share for every share held by them. Around 35 lakh shareholders will benefit from this so called ‘Diwali bonus’. The last bonus issue (also 1:1) by RIL was in 1997. The RIL board also proposed an interim dividend of Rs 13 per share for 2008-09. The dividend will entail an outgo of Rs 2,219 crore, including Rs 322 crore in taxes, said a senior company official. The board also approved the audited results of RIL for the year ended March 31, 2009.
1 comment
Read more