Wind energy major Suzlon is set to list Hansen Transmissions International NV, its wholly owned Belgian subsidiary, on the London Stock Exchange after regulatory clearances. The company will also raise Rs 5,000 crore to expand capacity through equity or quasi-equity.
Hansen came into the Suzlon fold a year ago following a $565-million acquisition. The company specialises in gearboxes and drive-train design, manufacture and supply to the wind turbine industry. Tulsi Tanti, CMD, Suzlon Energy Ltd, said Hansen Transmissions would build on its strong platform and play an important role in the rapidly growing wind power generation business.
Hansen is expanding capacity at its integrated manufacturing facility at Lommel, Belgium, and setting up manufacturing facilities in Coimbatore, India, and in China. ?Hansen is managed as an independent business. With its team and strong business plans, we see Hansen as a global market leader in gearbox technology,? Tanti said.
Expansion plans for the integrated turbine manufacturing facility are being scaled up from 1,500 mw to 3,000 mw to take global manufacturing capacity to 5,700 mw. The facilities will have the capability to build next generation turbines of large rated capacities. The facilities are scheduled to come online in a phased manner between Q1 and Q3 FY09. Total capital investment will be Rs 2,600 crore.
The Suzlon board also proposed a stock split in the ratio of 5:1, to increase the liquidity of the company?s shares and expand the investor base.
For the quarter ended September 30, 2007, Suzlon Energy reported consolidated revenues of Rs 3,641 crore, registering a 74% growth over the corresponding period of the previous year. Overseas revenues stood at Rs 2,232 crore and accounted for 61% of total sales.