Suzlon aims to reduce 40-50% of debt through asset monetisation by March

Wind power, Suzlon
Suzlon, this country’s largest maker of wind power gear, is looking at monetising some of its assets, amid an anticipated rise in sales volume from the next financial year, both at home and abroad.

J P Chalasani, group chief executive, said: “We have an advantage due to vertical integrated operations. The sector will witness growth of 10-12 Gw volumes per annum.”

He said the company was on track to reduce 40-50 per cent of its debt through asset monetisation by end-March 2019. It had restructured its loans in the past and had long-term debt of around Rs 71.4 billion as of end-June. 

The firm recently delivered for one project for Sembcorp under a first round of bidding for wind energy capacity, conducted by Solar Energy Corporation of India. “We partnered with Sembcorp from the pre-bid stage and delivered the full capacity ahead of the SECI timelines, despite the challenges,” said Chalasani.

According to him, Suzlon has 22-23 per cent market share, amounting to 1,500 Mw, after the first round of the SECI auction, including the recently completed project. "Some capacity is undecided as the bids happened just in September, in the NTPC and SECI-5 auction round. These are still available in the market. We will look at tying up for these as well," he said. 

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