CHICAGO, Sept. 8, 2011 /PRNewswire/ -- Suzlon Wind Energy Corp., the North American subsidiary of Suzlon Energy Limited (SEL) - the world's fifth largest wind turbine manufacturer - today announced that the owners of the first stand-alone wind farm built with its new S97 turbines have closed on long-term financing.
The 31.5 MW site in Amherst, Nova Scotia, is powered by 15 Suzlon S97-2.1 MW turbines, specifically designed to improve energy yields in low to moderate wind regimes. The S97 wind turbine is part of Suzlon's new S9X suite that features turbines which address increased customer demand for low to medium wind-speed machines. At full capacity, the turbines in operation at the Amherst wind power project will generate enough electricity to power more than 11,000 Canadian homes. The project is owned by SP Amherst Wind Power L.P., a partnership between subsidiaries of Sprott Power Corp. and Firelight Infrastructure Partners L.P. The partnership closed on $45 million in non-recourse, construction and take-out debt financing arranged by Stonebridge Financial Corporation with funding provided by the Great-West Life Assurance Company and Ontario Pension Board.
"This announcement marks a major milestone for Suzlon and underscores the continued confidence that lenders have in our newest S9X suite of turbines," said Andris Cukurs, CEO of Suzlon Wind Energy Corp. "The S9X is an evolution of Suzlon's proven technology platform, and every aspect of the turbine features enhanced design to deliver a higher return on investment for the customer."
Construction on the Amherst Project began in May 2011 and is expected to be completed in the first fiscal quarter of 2012.
For more information on Suzlon, please visit: www.suzlon.com.
About Suzlon Wind Energy Corporation
Suzlon Wind Energy Corporation focuses on the North American market and is a subsidiary of Suzlon Energy Limited, India. The headquarters for North America is based in Chicago, Illinois. Sales and service offices are located throughout the U.S.
About Suzlon Group:
The Suzlon Group is ranked as the world's fifth largest* wind turbine supplier, in terms of cumulative installed capacity, at the end of 2010. The company's global spread extends across Asia, Australia, Europe, Africa and North and South America with over 17,000 MW of wind energy capacity installed in 25 countries, operations across 32 countries, a workforce of over 13,000 and revenues of approximately US$ 4 billion. The Group offers one of the most comprehensive product portfolios - ranging from sub-megawatt on-shore turbines at 600 Kilowatts (KW), to the world's largest commercial 6.15 MW offshore turbine - built on a vertically integrated, low-cost, manufacturing base. The Group - headquartered at Suzlon One Earth on Pune, India - comprises Suzlon Energy Limited and its subsidiaries, including REpower Systems AG in which the company holds ~95 per cent share. Visit us at www.suzlon.com
Source: *BTM Consult ApS - A part of Navigant Consulting - World Market Update 2010.
Press Contacts:
USA:
Edelman Public Relations for Suzlon North American Headquarters
Mike Aabram
Tel: 312.297.7021
Mike.Aabram@Edelman.com
SOURCE Suzlon Wind Energy Corp.
