Bloomberg News

Suzlon Says German Unit Shielded From European Debt Crisis

October 22, 2011

Oct. 22 (Bloomberg) -- Suzlon Energy Ltd., Asia’s third- biggest maker of wind turbines, said orders at its German unit Repower Systems SE are shielded from the European debt crisis.

Repower has $4 billion of orders, of which 80 percent come from Canada, Belgium, France and Germany, and there is “no evidence yet” that bank financing for wind projects is tightening in those countries, Chief Financial Officer Robin Banerjee said in a telephone interview today.

Repower’s orders are mostly from large utilities and other customers whose “financial soundness is not in question,” he said.

Ahmedabad, India-based Suzlon reported group net profit of 480 million rupees ($9.6 million) in the three months ended Sept. 30, compared with a 3.7 billion-rupee loss last year.

Its total order book is $6.5 billion, it said today in an e-mailed statement. It won 920 megawatts of orders totaling $1.1 billion in the period, Banerjee said.

--Editors: Paul Verschuur, Andrew Langley

To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at npearson7@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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