Tanti said the sale of non-critical assets would be in India only. He said the company was in the process of strengthening its balance sheet.
Wind power major Suzlon Energy plans to sell Rs 1,000 crore of non-core assets to cut debt, Chairman and Managing Director Tulsi Tanti said today. "We are going to sell Rs 1,000 crore more non-critical assets within the country. This will help us in reducing the piling debt," Tanti told reporters on the sidelines of a seminar organised by the CII.
Suzlon said yesterday it sold the Big Sky Wind Farm in Illinois to EverPower Wind Holdings , without disclosing the value. The Indian company had announced the acquisition of Big Sky on April 2.
Tanti said the sale of non-critical assets would be in India only. He said the company was in the process of strengthening its balance sheet. "How we will do that will be known after some time," Tanti said. With an installed wind energy capacity of 24,000 MW globally, 70 percent of Suzlon's revenue comes from overseas.
In India, the company's installed capacity was 8,000 MW with a 40 percent market share. "Our next target is to set up an installed capacity of 1 lakh MW," he said.
The company's order book position globally at the moment was about USD 8 billion.
Suzlon Energy stock price
On April 10, 2014, Suzlon Energy closed at Rs 14.92, down Rs 0.02, or 0.13 percent. The 52-week high of the share was Rs 15.55 and the 52-week low was Rs 5.72.
The latest book value of the company is Rs 9.72 per share. At current value, the price-to-book value of the company was 1.53.
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