Suzlon to spend Rs1,200 cr on Telengana renewable power project
10 March 2016
Wind turbine maker Suzlon Energy Ltd said it is looking to set up a 3,000 MW solar, wind and hybrid power generation plant in Telangana with an investment of Rs1,200 crore.
However, the announcement by the company didn't enthuse investors. The share price of Suzlon Energy was trading flat on the Bombay Stock Exchange at 11 am today.
The development came during a meeting between Telangana Panchayat Raj and IT Minister K T Rama Rao and Sulzon chairman and managing director Tulsi Tanti in Mumbai, a state government release in Hyderabad stated.
Rao also met Kotak Group managing director Uday Kotak and Mahindra Group chairman and managing director Anand Mahindra and sought investments in the state. They responded positively on the requests, the release added.
Rao assured the Suzlon group of all support from the Telangana government.
Suzlon in January made its foray into the solar sector winning 210 MW projects from the Telangana government through a competitive bidding process.
The Telangana government has been aggressively wooing investors with an industry-friendly industrial policy called the Telangana State Industrial Project Approval and Self-certification System (TS-iPASS), a single window for clearing all investment plans.
So far it has approved projects worth Rs33,000 crore, with the potential to provide employment to 120,000 people.