India

India

Suzlon denies Japanese offshore plans

INDIA: Suzlon has disputed reports that it is in negotiations with a number of Japanese companies to establish a joint venture (JV) to develop offshore turbines in Japan.

Suzlon said that Tanti's comments were taken out of context
Suzlon said that Tanti's comments were taken out of context

A spokesperson for Suzlon said there was nothing in a Bloomberg article which quoted Suzlon chairman Tulsi Tanti as saying that it is looking at Japanese offshore opportunities.

The report claims that Tanti said Suzlon was attracted to the Japanese market due to the low cost of borrowing in the country — a pull for a company with such cumbersome debts.

It says that while Tanti declined to name companies, Suzlon had entered into negotiations with a number of Japanese firms — a claim that the company denies.

A number of Japanese businesses have signalled a move into offshore wind, including Mitsubishi Heavy Industries and Hitachi. Japan has terrain ill-suited to onshore development and lacks a continental shelf, so has been looking at floating turbines to provide its renewable energy needs.

Suzlon's German subsidiary, Senvion, is already well established in the offshore turbine market.

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