Suzlon Wind Energy Corporation, USA (SWECO), a step down subsidiary of the Suzlon Energy Ltd., has filed for voluntary liquidation in the United States Bankruptcy Court of the Northern District of Illinois, Eastern Division under Chapter 7 of the United States Bankruptcy Code and Federal Rules of Bankruptcy Procedure of the USA on June 29, 2021.
The board of SWECO took this decision in wake of continued financial stress sustained by its operations during the pandemic. The com[any does not foresee this decision to have any direct and/or material impact on Suzlon Energy Ltd in India.
