Suzlon sells Big Sky Wind Farm to EverPower Wind Holdings

Apr 09 2014, 14:04 IST
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Shares of Suzlon Energy were trading at Rs 14.97, up 7.23 per cent on the BSE.  Shares of Suzlon Energy were trading at Rs 14.97, up 7.23 per cent on the BSE.
SummaryShares of Suzlon Energy were trading at Rs 14.97, up 7.23 per cent on the BSE.

Suzlon Group, which recently bought the Big Sky Wind Farm in Illinois from Edison Mission Energy, has sold it to EverPower Wind Holdings.

"Suzlon Group announced the strategic sale of the 240 MW Big Sky Wind Farm in Illinois to EverPower Wind Holdings," the company said in a statement without disclosing the value of the sale.

Suzlon Group had recently acquired the Big Sky wind farm from Edison Mission Energy via their fully owned US-based subsidiary Suzlon Wind Energy Corp (SWECO), the statement said.

"We are very pleased to welcome EverPower to the Suzlon family of customers," said Duncan Koerbel, CEO of Suzlon Wind Energy Corporation and CTO of the Suzlon Group.

"We are pleased to add this project to our portfolio,” said James Spencer, President and Chief Executive Officer of EverPower.

"This sale of Big Sky Wind Farm to a sound long term investor like EverPower is an important part of our disinvestment strategy to hive off non-core assets, and the net proceeds of the sale will be used to fuel our business growth," said Kirti Vagadia, Group Head, Finance at Suzlon.

Completed in early 2011, the Big Sky Project utilizes 114 Suzlon 2.1 MW turbines to generate enough electricity per annum for nearly 50,000 homes while also offsetting over 225,000 tonnes of carbon emissions.

Shares of Suzlon Energy were trading at Rs 14.97, up 7.23 per cent on the BSE.

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