Windmill Mishap Weighs on Suzlon

Posted by CITIZEN POWER ALLIANCE at 2:05 PM

India's Suzlon Energy Ltd., the world's fifth-largest wind-turbine maker by unit sales, is facing additional questions about its technology after a 140-foot-long blade broke off a tower in Illinois.

News of the blade detachment, at a project financed by Deere & Co., drove Suzlon's shares down 39% to 47.25 rupees, or 93 U.S. cents, Friday in Mumbai trading.

The accident is the latest in a series of cracking windmill blades and other technical problems in the U.S. and India that have hurt Suzlon's image. The share-price decline Friday also reflected investor concerns that Suzlon will be unable to raise the money it needs in coming months to fund an ambitious global expansion plan and may be forced to sell assets, analysts said.

(Click to read entire article)

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Blogger Template by Blogcrowds

Copyright 2006| Blogger Templates by GeckoandFly modified and converted to Blogger Beta by Blogcrowds.
No part of the content or the blog may be reproduced without prior written permission.