Mumbai :Wind turbine maker Suzlon Energy Ltd is considering refinancing its own funds. ₹Debt from stocks and loans totals about ¥200 billion, according to two people familiar with the matter.
Mumbai :Wind turbine maker Suzlon Energy Ltd is considering refinancing its own funds. ₹Debt from stocks and loans totals about ¥200 billion, according to two people familiar with the matter.
The company announced Friday that its board of directors has approved a maximum funding amount. ₹Donated 200 billion yen through referrals from qualified institutions for debt repayment and growth funds. We are also in talks with foreign banks and non-bank financial companies to raise long-term debt.
The company announced Friday that its board of directors has approved a maximum funding amount. ₹Donated 200 billion yen through referrals from qualified institutions for debt repayment and growth funds. We are also in talks with foreign banks and non-bank financial companies to raise long-term debt.
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“Between debt and equity, companies must raise funds.” ₹200 billion. By the first week of August, the nature of the funding should be clear. Management has made it clear that the company needs to reduce its balance sheet debt. The company will consider repaying part of its debt to the Rural Electrification Corporation (REC),” one of the two sources quoted above said, adding that the company has an equity investor in QIP. He added that he has a strong interest from
Last year, the State Bank of India, along with 15 other banks, ₹As part of its balance sheet cleanup, Suzlon Energy has loaned 800 billion yen to REC and the state-owned Indian Renewable Energy Development Authority (Ireda). After this, the company was declassified as a defaulter on bank books.
Suzuron plans to raise capital at the listed parent company level. It is also negotiating with banks to raise the book liabilities of its subsidiary Suzlon Global Operations and Maintenance Services (GOMS), which manages assets worth $12 billion.
“Suzlon will borrow from its subsidiary, an operation and maintenance (O&M) company, and pay cash upstream to the parent company to secure repayment of the parent facility by the two lenders. , the non-financial limits, bank guarantees and LC limits will be increased so that we can start the growth cycle again.The whole idea is to start the growth cycle,” the second person added.
Investors would be relieved to be able to raise the debt through an O&M subsidiary that provides stable annuity income through contracts. The money will likely be used to pay off the parent company’s debt, which will help Suzlon improve its financial position and possibly allow it to participate in a large renewable energy auction that could take place this year.
A report by ICICI Securities found that Suzuron could benefit from recent wind energy policy changes, as well as a series of initiatives including the cancellation of reverse auctions, the implementation of wind power-specific renewable energy purchase obligations (RPOs) and plans. It is forecast. 10GW per year will be auctioned.
The company has a market share of 33% in the Indian domestic market based on total installations. The company has 20GW of wind capacity worldwide, with existing orders for 1.5GW of his, which bodes well for execution over the next two years.
In the March quarter, Suzlon Energy posted a consolidated net profit. ₹$320 million on a budget. The company posted a consolidated loss. ₹$255.2 million in the same period last year.Total operating profit is ₹From 169.996 billion in the quarter ended March 31, 2023 ₹One year ago, it was 2,478.73 million.
