MUMBAI: Suzlon Energy has divested 49% stake in solar power projects totalling 210 mw and is in advanced talks to sell stake in another 130 mw projects in a deal that the company aims to close before March, said Kirti Vagadia, group chief financial officer.The company had divested 49% in six projects totalling 210 mw to raise Rs 176 crore. Subsequently, the company built a portfolio of solar power projects totalling 515 mw. It has already signed power purchase agreements for 340 mw.“We are now negotiating for 130 mw of other projects for which we have already signed power purchase agreements. Hopefully, we would close the deal by March,” Vagadia said.Suzlon entered the sector with one of its existing subsidiary and acquired five other entities which has no operational assets at face value to execute solar power projects. Suzlon Energy, which was burdened by huge debt and accumulating losses, is working towards a turnaround with debt restructuring giving relief on repayments and improved order flows.

Source: Economic Times February 12, 2017 19:07 UTC