Suzlon has announced it has entered into an agreement with China’s Poly LongMa Energy (Dalian) Ltd to divest 75 per cent stake in its China-based manufacturing subsidiary–Suzlon Energy Tianjin Limited (SETL)–for US$ 28 million.
Suzlon Group will continue to own 25 per cent share in the company and participate in its operations as joint venture partner. Poly LongMa Energy (Dalian) Ltd will lead marketing and sales operations in China, with Suzlon acting as technology partner with its existing China portfolio –including the S66–1.25MW, S82–1.5MW and S88–2.1MW turbines, and manage manufacturing and quality for the venture.
