Suzlon Energy US Subsidiary extends contract with PPM Energy

Suzlon Energy Ltd has announced that Suzlon Wind Energy Corporation, the USA, the step-down subsidiary of the Company has extended its contract with PPM Energy of Portland, Oregon, the USA to add 300 MW of wind turbine capacity to become one of the largest single contracts in the history of the Company and the US wind energy industry.

The original agreement calls for delivery of 300 MW of turbine capacity in 2008 and 100 MW of capacity in 2009, but now has been extended to include an additional 300 MW in 2009 for a total of 700 MW over two years.

The stock was trading at Rs.1509, up by Rs.31.30 or 2.12%. The stock hit an intraday high of Rs.1525.50 and low of Rs.1474. The total traded quantity was 244699 compared to 2 week average of 334893.

Source : Equity Bulls

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