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Wind turbine maker Suzlon is reportedly losing
money again.
The company said it plans to reduce by Rs 3,000 crore by the end of the current financial year, representing 30 to 40 per cent
of total debt.
The CEO of Suzlon Group revealed, "Our actual goal is that by the third quarter (third quarter or second quarter, we will be able to reduce close to 30% of debt
.
”
After achieving a profit of INR 8.
5 billion in FY2017, net loss for 2017-2018 was around INR 3.
8 billion and revenue fell 35 per cent to Rs.
8,290 crore
.
This change is mainly due to changes in the project reward system and fewer
orders.
He said profits for fiscal 2017 had arrived after six straight years of losses
.
Last year
.
760 MW of new projects were commissioned in the country, of which 626 MW were built
by Suzlon.
In its quarterly results, it claims a 35% market share
in India.
In 2017, the central government ended a 25-year feed-in tariff mechanism to reward wind energy projects and introduce competitive tenders
.
Capacity additions fell to an all-time low of 650 MW, but interest rates fell by half to Rs 2.
5 per kWh
.
According to the FiT, the electricity regulator determines the rate
.
He said falling interest rates were putting pressure
on operations.
He hopes that the government will award large-scale projects that will bring sustainable growth
to the company in the near future.
At present, Suzlon has canceled many orders
.
At the end of March, the total number of cancellations was 733 MW
.
:/, please indicate the source for reprinting)
Wind turbine maker Suzlon is reportedly losing
money again.
The company said it plans to reduce by Rs 3,000 crore by the end of the current financial year, representing 30 to 40 per cent
of total debt.
The CEO of Suzlon Group revealed, "Our actual goal is that by the third quarter (third quarter or second quarter, we will be able to reduce close to 30% of debt
.
”
After achieving a profit of INR 8.
5 billion in FY2017, net loss for 2017-2018 was around INR 3.
8 billion and revenue fell 35 per cent to Rs.
8,290 crore
.
This change is mainly due to changes in the project reward system and fewer
orders.
He said profits for fiscal 2017 had arrived after six straight years of losses
.
Last year
.
760 MW of new projects were commissioned in the country, of which 626 MW were built
by Suzlon.
In its quarterly results, it claims a 35% market share
in India.
In 2017, the central government ended a 25-year feed-in tariff mechanism to reward wind energy projects and introduce competitive tenders
.
Capacity additions fell to an all-time low of 650 MW, but interest rates fell by half to Rs 2.
5 per kWh
.
According to the FiT, the electricity regulator determines the rate
.
He said falling interest rates were putting pressure
on operations.
He hopes that the government will award large-scale projects that will bring sustainable growth
to the company in the near future.
At present, Suzlon has canceled many orders
.
At the end of March, the total number of cancellations was 733 MW
.
:/, please indicate the source for reprinting)
/
