Suzlon Energy, the India-based renewable energy solution provider has announced the closing of its Brazilian operations carried out by its subsidiary Suzlon Energia Eólica do Brasil (SEOB).
In this connection, Suzlon Energy has filed for the voluntary liquidation of SEOB which was established in 2006 to handle its business opportunities in Brazil.
The decision comes after a thorough review of all options and also as a consequence of a number of factors that are unique to Brazil, stated Suzlon Energy. It is not expected to have any impact on the global operations of the renewable energy company.
A Suzlon Energy spokesperson said: “We believe that this is a responsible decision for the benefit of long-term sustainability of the Company and its shareholders.”
Headquartered in Pune, Suzlon Energy is a wind turbine supplier with operations in 18 countries Asia, Australia, North and South America, Europe and Africa with a workforce of more than 8,500 employees.
It has so far installed around 17GW of wind energy capacity out of which over 11GW is in India.
In April, Suzlon Energy had won a contract to provide 100.8MW of its S111 turbines with 120m hub height to ReNew Power Ventures for its Limbwas project in the Indian state of Madhya Pradesh.
Earlier this year, Suzlon Energy had entered into the solar energy market by winning rights to build solar projects with a combined capacity of 210MW in the Indian state of Telangana, as per a report in The Hindu.
Last month, Suzlon Energy entered into a joint venture with CLP India for a 100MW solar project in Telangana at Veltoor which is a part of the 210MW portfolio.