Suzlon forays into solar sector with 210MW LoIs from TSSPDCL

Leading wind turbine maker Suzlon Energy Ltd on Wednesday said it has won 210MW Letter of Intent (LoIs) from the state utility, Southern Power Distribution Company of Telangana Limited (TSSPDCL) through a competitive bidding process. “Suzlon forays into solar; wins 210MW projects in Telangana,” the company said in a filing to the Bombay Stock Exchange on January 13, 2016. The 210-MW project consists of six different capacity projects to be located in across the state, including one project of 100 MW, one of 50 MW and four projects of 15 MW each. These projects are expected to be commissioned during financial year 2016-17, it said. These solar projects will be developed under six different special purpose vehicles of which one is an existing subsidiary of Suzlon, while five have been acquired by taking over 100 per cent shareholding. These would be used as the proposed solar special purpose vehicles for the project, it added. Meanwhile, shares of the company closed flat at Rs 20.75 apiece from previous close on BSE.