Visit for the latest on our upcoming conferences and webcasts

Suzlon sees slump in order book

INDIA: Indian turbine manufacturer Suzlon's fortunes went from bad to worse following a massive slump in its orders.

Its revenues fell from INR 13.27 billion (EUR2.2 billion) in H1 2009 to INR 8.5 billion (EUR1.4 billion) in H1 2010 - a decline of 36%. This resulted in a seven-fold increase in net losses, from a relatively modest INR 137 million (EUR22.9 million) loss in H1 2009 to an INR 11 billion (EUR184.3 million) loss over the first six months of this year.

Analysts blamed weak demand for green energy and continued foreign exchange losses.

It has been estimated that the company delivered only 200MW in Q2 2010, although it has the capacity to deliver 3.5GW. If this estimate is accurate, it would be difficult for Suzlon to cover even its fixed costs.

The figures prompted reports that the company is planning to sell a 25% stake in its German subsidiary Repower in a bid to raise finance. Suzlon declined to confirm or deny these reports to Windpower Monthly.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Windpower Monthly Events

Latest Jobs