Suzlon to buy Chinese wind energy firm

Suzlon Energy Chairman and Managing Director Tulsi R Tanti has announced plans to buy Chinese wind energy company Honiton Energy Holdings.

The acquisition will be concluded through Colossus Holdings, a Singapore-based holding company of the Tanti group, and Bahrain-based private equity company Arcapita Bank for over US$ 500 million, sources said. The Tanti Group will own 26 per cent of the Chinese company and the rest will be funded by Arcapita. The partners will spend another US$ 2 billion by 2012 to develop a 1,650MW portfolio of wind farms in the Inner Mongolia region of China.
(source: www.business-standard.com)