Suzlon readies new campus, sells 35% stake in gearbox unit

As Suzlon Energy, one of the world’s largest wind turbine manufacturers, makes plans to inaugurate its new Pune, India-based campus, it sold a 35 percent stake it held in Hansen Transmissions for $370 million, and celebrated the opening of a wind farm in Australia.

Hansen, Suzlon’s Belgian gearbox making subsidiary, was sold through AE-Rotor Holding in a secondary placement. Suzlon now maintains a 26 percent stake in Hansen. Suzlon (BOM:532667) has said the proceeds are expected to be used to lower its debt.

Australia’s Infigen Energy also officially opened its 141 megawatt Capital Wind Farm in Bungendore, New South Wales, which is being powered by 67 of Suzlon’s S88 2.1-MW wind turbines. The facility is expected to help prevent nearly 400,000 tons of greenhouse gas emissions per year.

Infigen’s business includes interests in 41 wind farms in Australia, the United States, France, and Germany, with a total capacity of more than 2,200 MW.

Suzlon is also reportedly moving most of its management operations, previously located in Amsterdam, back to its headquarters in Pune, where its new campus, global headquarters, and center of its worldwide operations are soon to be inaugurated. The campus is expected to house about 2,500 employees.

Earlier this month, Suzlon announced it had a new 20 MW order for a community-based wind farm in Minnesota (see Suzlon receives 20 MW U.S. wind turbine order).

The company also said a 19.5-MW wind farm project for the Gujarat Mineral Development Corp. and the Silver Sage Wind Project, a Duke Energy wind farm comprised of 20 Suzlon S88 2.1-MW wind turbines, have been completed (see Bet on Suzlon?).

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