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Suzlon to set up wind turbines in South Africa

Suzlon Energy has signed a contract with African Clean Energy Development, or ACED, for the supply and construction of 76 wind turbines of its 2 mega watt series in South Africa.

May 25, 2011 / 02:01 PM IST
 
 
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Moneycontrol Bureau


Suzlon Energy has signed a contract with African Clean Energy Development, or ACED, for the supply and construction of 76 wind turbines of its 2 mega watt series in South Africa.


AECD will have an option to acquire additional 124 turbines for the Cookhouse Wind Energy Facility, Suzlon said.


The financial terms and conditions of the deal were not disclosed.


ACED is a joint venture between Africa Infrastructure Investment Managers, a company held by Old Mutual group South Africa and Macquarie Capital, and AFPOC Ltd.


The installation of the wind turbines is expected to commence in late 2011 or early 2012, Suzlon said.


Suzlon shares rose 2% to Rs 50.15 on NSE in morning trade after following the announcement


The company earlier this month said it is expecting a revenue growth of 44% in the current fiscal year (2011-12) to about Rs 26,000 crore.

It will focus on markets like India, China, Brazil, South Africa and Latin America to drive its growth, Suzlon had said.