E•BOOM CAPITAL: Suzlon Announces $1.28 Billion Sale, GE $300 million JV Makes First Investments
Indian wind turbine manufacturer Suzlon Energy Limited (NSE: Suzlon.NS) said today it has received a $1.28 billion order from Caparo Energy (India) to develop 1,000 megawatts (MW) of wind power projects in India.
The projects will produce 500 MW of energy by March 2012 with a further 500 MW added by March 2013, the company said.
Suzlon shares increased two percent in early trading, but ended the day down one percent.
Suzlon was the world’s third largest supplier of wind turbines in terms of market share in 2009 and has installed more than 15,000 MW of wind energy capacity in 25 countries. The company said its 9.8 percent share of the 2009 market combines Suzlon’s 6.4 percent share and the 3.4 percent share of REpower Systems AG (XETRA: RPW.DE), of which Suzlon owns more than 90 percent.
Caparo Energy (India) is a wholly owned subsidiary of AIM(London)-listed Caparo Energy Limited (London: CEL.L) and is focused on becoming one of the leading independent power producers in India with a thrust on wind energy. Caparo’s shares were trading up 3.4 percent at mid-day in London.
$300 Million U.S. JV Makes First Investments
GE (NYSE: GE), NRG Energy, Inc. (NYSE: NRG) and ConocoPhillips (NYSE: COP) said Thursday their new joint venture, Energy Technology Ventures, will invest $300 million in approximately 30 venture and growth-stage companies over the next four years.
The joint venture’s initial investments are in:
- Alta Devices, Santa Clara, California, improving the production economics of advanced materials for high-efficiency, low-cost solar energy
- Ciris Energy, Inc., Centennial, Colorado, developing technology to biochemically convert coal to methane at large scale and low cost.
- CoolPlanetBioFuels, Camarillo, California, developing technology that converts low-grade biomass into high-grade fuel and carbon that can be sequestered.
GE Energy Financial Services’ venture capital team has invested about $200 million in 27 early and growth-stage energy-related technology companies since January 2006. Four of those companies have completed initial public offerings: A123 Systems (NASDAQ: AONE), Codexis (NASDAQ: CDXS), Orion Energy Systems (AMEX: OESX) and China High Speed Transmission (HKSE: 658:HK).
NRG Energy has initiated a wide range of investments in emerging technologies in solar, wind and nuclear power – including more than 2,000 MW of solar projects under development or in construction – and has announced plans to electrify the transportation infrastructure in Houston with the nation’s first privately funded, comprehensive electric vehicle ecosystem.
Photo credit: Suzlon Energy
DISCLOSURE: The writer has no positions in, or professional connections with, these companies.
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