Suzlon welcomes Australian Government commitment to enhancing RET

Suzlon Energy Ltd. received an order to set up, operate and maintain a 52.5 megawatt wind energy project from Gujarat State Petronet Ltd., a unit of the Gujarat State Petroleum Corp. Ltd. Group. The wind farm will be set up in the Rajkot and Porbandar districts of the western Indian state of Gujarat and raise GSPCL’s total wind power portfolio to 105 MW.

The project is scheduled to be complete by July 2010. Power generated from the wind farm will be purchased by Gujarat Urja Vikas Nigam Ltd. under a long-term power purchase agreement.

In Australia Suzlon supports the Government’s approach of introducing a Large Scale Renewable Energy Target and a Small-scale Renewable Energy Scheme. This will help build investor confidence in the renewable energy market in Australia.

Suzlon is now looking forward to the release of the industry consultation paper where the details of the proposed changes to RET will be made clear. The industry now needs a speedy change to the legislation to allow investment to flow again.

Mr. Dan Hansen, CEO of Suzlon Energy Australia, said: “The Renewable Energy Target is the main driver of investment in clean, renewable energy projects in Australia. The Government’s announced intention to improve the operation of RET is great news and will underpin the successful expansion of Australia’s renewable energy industry. An effective RET will create new clean energy jobs and help Australia make the transition to a low carbon economy. Suzlon is now looking forward to working with the Government on the details of the legislation to ensure a thriving market for renewable energy projects in the coming decade.”

Mr. Tulsi Tanti, Chairman and Managing Director of Suzlon Energy Limited, said: “We welcome the Australian Government’s strong support for renewable energy. The recent announcement by the Government to enhance RET is a clear signal to the international business community that Australia is serious about investing in a clean energy future.”

Suzlon Energy Australia Pty. Ltd, the Australia and New Zealand arm of Suzlon Energy Limited, is the largest turnkey constructor, operator and maintenance service provider of grid-connected wind farms in Australia. Suzlon’s current Australian commitments will see over 700 MW of wind energy delivered in South Australia, New South Wales and Victoria.

Suzlon 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 wind power 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.