Suzlon tight-lipped over Big Sky
Suzlon has remained tight-lipped over claims that it may take over ownership of a 240MW US wind farm if long-running efforts fail to negotiate repayment of a loan it advanced to the project.
The Indian wind group has spent over a year trying to recover more than $200m it advanced to Edison Mission Energy – which is now bankrupt – to finance the purchase of its turbines for the Big Sky project in Illinois.
Suzlon expects to recover less than half of that sum, and is facing up to the prospect of having to own and run the wind farm as its only recourse, according to Bloomberg.
A Suzlon spokesman said: "We are in discussions with Edison to find a solution.
"However, we would not be able share specifics due to commercial sensitivity and confidentiality of the matter."
The cash tied up in the US project has been a headache for Suzlon, which has been involved in painstaking negotiations to restructure its own debts.