Suzlon opens new R&D and technology centre in Germany

October 19, 2010

Wind turbine supplier Suzlon Energy has opened a new research, development & technology centre in Germany. The company plans to have a total employee strength of 200 in the new centre, which will include over 120 employees of Suzlon Energy GmbH. Suzlon GmbH is a joint venture between Suzlon’s arm Suzlon Wind Energy and Volkswind Bulgaria GmbH, which is a subsidiary of Volkswind GmbH.

Besides, the company plans to expand capacity at its plant in China as it expects to return to profit this financial year. Suzlon will manufacture turbines capable of generating a combined 1,000 MW in China by 2013, Suzlon Chairman Tulsi Tanti said in Tianjin, China. That’s a 67 per cent increase from the current capacity of 600 MW, which Tanti said will be used fully next year.


Orient to tap wind power in Sri Lanka and Croatia

October 19, 2010

Orient Green Power Limited (OGPL), engaged in developing, owning and operating renewable energy power projects, is planning to expand into overseas markets. The Chennai-based company, promoted by Shriram EPC, is planning to set up 200 MW of renewable energy projects mainly in the wind energy sector outside India and has identified Sri Lanka and Europe as the key markets.

Mr Shivaraman, CEO & MD, OGPL, said the company had picked up 87 per cent stake in Power Lanka (the rest held by a local partner), which would commission and operate a 10.5-MW wind power project. OGPL has already signed a power purchase agreement with the Sri Lankan government for a price of INR 10 per kWh for 20 years.

To establish wind farms in Europe, the company, through its subsidiary Orient Green Power Europe, has acquired a 52 per cent stake in Croatia-based Vjetroelektrana Crnobrdo. It has got an approval for building and operating a 10.5-MW wind power project.


India-US clean energy research centre established

October 6, 2010

India and the US formally signed an agreement for cooperation on a joint Clean Energy Research Development Centre. The agreement follows from the discussions held between Prime Minister Manmohan Singh and President Barack Obama during the former’s visit to Washington in November 2009.

The areas of co-operation would include energy efficiency of buildings, smart grids, unconventional natural gas, second-generation biofuels, clean coal technologies and solar energy.


Green stocks good long-term bet: Study

October 6, 2010

With no alternative to green energy in future, investments in renewable energy still make sense and the long-term prospects are intact for the investors, says a study by Switzerland-based private banking group Bank Sarasin & Co.

The report also says that the world economy will return to growth in 2010, expanding by over 4 per cent. As a result, global energy demand will also rise, particularly in developing countries. According to the report, the mature technologies of wind and solar energy are going through significant changes that are resulting in structural consolidation.


India to see a spurt in green jobs

October 6, 2010

As global focus shifts to energy efficiency, with the market for environmental products and services projected to touch $2.74 trillion by 2025, headhunters say about one million green jobs will open up in India alone over the next two years. Green jobs, as defined by the United Nations Environment Programme, refers to work in agricultural, manufacturing, research and development or administrative activities that contribute to preserving environmental quality, and help in protecting the ecosystem and biodiversity.

While green architecture, biotechnology and environment management are the most lucrative and sought-after professions in the new, green sector, policy-making for renewable energy and natural resources management is fast gaining popularity.

Wind turbine manufacturer Suzlon Energy signed an MoU with TERI University in March 2009 to institute an MTech programme in renewable energy engineering and management. From just 48 students in 2006, the varsity has over 260 pupils.

According to a United Nations Environment Programme report based on 2008 estimates, by the year 2025 India will see the creation of 900,000 green jobs in the area of biogas alone.

(picture from http://businesstrends.wordpress.com/)


TPG, US fund eye stake in REpower

October 6, 2010

Private equity fund TPG Capital and a US-based global energy fund are in separate talks with Suzlon to acquire up to 25 per cent stake in its German wind energy subsidiary, REpower Systems AG, for $ 500 million, a person close to the development said. The transaction will be done through a mix of fresh issue of shares by REpower and stake sale by Suzlon. Suzlon owns 90.7 per cent in REpower.


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