Suzlon acquires five companies in solar energy sector

Suzlon Energy Ltd, the wind turbine specialist which recently forayed into solar energy sector, has acquired five solar energy firms in Maharashtra.
 
“The company has acquired the following companies, Gale Solarfarms Private Limited, Tornado Solarfarms Private Limited, Abha Solarfarms Private Limited, Aalok Solarfarms Private Limited and Shreyas Solarfarms Private Limited to implement various renewable energy projects across the country, including the recently won solar projects in Maharashtra of 70 MW. These companies, which have been acquired at face value, do not have any operations or assets currently and have been acquired primarily to be used as SPVs for the proposed solar project,” said Suzlon in a BSE filing yesterday.
   
In January this year, Suzlon entered the solar power sector by grabbing 210 MW project in Telangana.