"Suzlon has found Marathon Capital to have excellent relationships and expertise that we believe will help us underscore our commitment to our products, services and the industry," said Andris Cukurs, CEO of Suzlon Wind Energy Corp.
"Suzlon views this endeavor as an opportunity to innovate, identify and progress customer financial solutions," Cukurs added. "Our wind turbine customers appreciate an exceptional level of customer service. This partnership is directed at addressing the financing issues faced by many wind energy development firms in the existing financial environment, while emphasizing our customer service commitment."
Ted Brandt, CEO of Marathon Capital noted: "Wind power is the major contributor to renewable energy generation, and Suzlon is a large part of that mix. Suzlon represents an organization that clearly has an ongoing commitment to its product and customers. But, this is an industry now where few participants can support financing based simply on their balance sheets. However, we believe there are significant opportunities on the horizon for the U.S. wind market which will extend to the financial community, and will focus on innovative financial structures. Suzlon and Marathon are exploring those innovative opportunities."
The American Recovery and Reinvestment Act of 2009 provides an Investment Tax Credit for installed turbines and extends the Production Tax Credit through 2012. This government program will prompt a review of current financing structures and bring about opportunities for innovation in the financial community.
Marathon Capital, LLC: Established in 1999, Marathon Capital, LLC is an experienced investment banking firm focused on the global energy and infrastructure markets. Marathon is headquartered in Bannockburn, Illinois and its web site is http://www.marathon-cap.com
Suzlon Wind Energy Corporation focuses on the North American market and is a subsidiary of Suzlon Energy Limited, India. The headquarters for North America is based in Chicago, Illinois. Sales and service offices are located throughout the U.S.
Suzlon Energy Limited ranked as the world’s third leading wind turbine supplier in terms of market share in 2008. Suzlon has ranked as the leading manufacturer in the Indian market for ten consecutive years, maintaining over 50 per cent market share. Suzlon has its corporate offices in Pune, India and the company’s global spread is reflected in its projects and markets portfolio – extending across Asia, Australia, Europe and North and South America. Suzlon is a highly vertically integrated wind turbine manufacturer with manufacturing capability along the full value chain ? from components to complete wind turbine systems.
Suzlon and REpower, taken together, stand as the world’s third leading wind turbine supplier group in terms of market share. Market share of 12.3 per cent is derived from BTM Consult ApS World Market Update 2008, ranking Suzlon with 9 per cent of global market share and REpower with 3.3 per cent of global market share.