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Wind Turbine Erection Projects

Wind Turbine Transportation Projects

15 units of 2,1 MW Suzlon wind turbines had been transported & erected in Didim / Turkey.

Indian Entrepreneur Tulsi Tanti is the Chairman and Managing director of Suzlon. Sulzon , founded in 1995 , is one of the leading wind turbine manufacturers in the world.

Tulsi Tanti used to be in the textile business.He was Faced with the problem of escalating costs and unavailability of power.He had to look for an alternative.Tulsi Tanti decided to go in for wind energy.He set up two windmills for supplying electricity to his textile plant.

During that time Tulsi Tanti realised that wind enery has a huge growth potential.This belief of his led to the creation of Suzlon.

Suzlon Energy had a humble begining in 1995 with just 20 people,today its has more than 10000 employees from all over the world.Suzon is the world’s fifth largest wind turbine manufacturer.Suzlon has a market share of around 10.5 per cent.Suzlon has presence in 20 countries including USA,UK, China,Australia, Netherland,and New Zealand.Suzlon is building the largest wind park in Asia.

The company has been facing some problems lately.Because of the effect of recession,the company saw a fall in its share prices.Also,an order for turbines was cancelled by California’s,Edison International.Every business faces ups and downs and Suzlon is no exception.Analysts are hopeful that the company will eventually recover.

Sulzon is aiming to be in the list of the top three wind energy companies in the world.

In an interview I conducted for my forthcoming book on Indian entrepreneurs going global. I asked Mr Ramadorai, when he was the CEO of India’s largest IT firm – TCS, as to who he thought would succeed him, what became quite clear from his and those I asked this question to, was that a pattern was emerging within the boardrooms of Indian companies.

Two issues emerge – (a) whether in their succession planning, they’d consider external candidates and (b) whether they’d consider non-Indian candidates.

On the first issue, it seems clear to me that Indian firms prefer recruiting for top jobs from within their organisation. In the TCS example, Ramadorai’s successor – Chandra has long been seen as the heir apparant. In other similar situations, take Infosys as another example where the baton has been passed from Murthy, Nilekani and now to Krish Gopalakrishnan.

With respects to having a non-Indian at the helm, there aren’t many examples but the two obvious ones that come to mind concern Brian Tempest’s appointment at Ranbaxy, where after a brief stint, he was shifted by Malvinder Singh to a more supportive role, and the other being Alan Rosling, who Ratan Tata appointed to coordinate strategy at Bombay House, the TATA HQ in India. I recollect the look of horror on other industry veterans, when Rosling was appointed and had to represent TATA in global industry platforms.

The other notable example is that of Suzlon, which made the conscious decision to move their HQ to Europe and in tandem appointed a non-Indian as CEO, who has recently moved on, one suspects due to the move back to India for their global HQ.

India has a long way to go in its journey to become a economic super-power, and I believe that a healthy debate has begun in the boardrooms of these companies on issues such as this. In my view, I don’t think we’re too far off from seeing an external, non-Indian heading up a major Indian conglomerate.

Gazing into my crystal ball – I reckon the mother of all succession headaches surrounds Ratan Tata. I wouldn’t be surprised if Tata Sons opted for a (a) external person (b) of non-Indian origin (despite the prominence provided to Naval Tata as heir apparant as a result of his surname),  after Ratan Tata.

Watch this space…

Good morning friends.  At Ahmedabad city the Fourth Energy Expo begins today. The event will be for the Future of Indian Power Sector. It’s good to know about it.

The three-day 4th Energy Expo 2009 international exhibition will commence in Ahmedabad on Friday, while India Energy Conclave 2009 began on Thursday under the chairmanship of Sudhir Trehan, Managing Director, Crompton Greaves Ltd.

The Expo will focus on key issues in the energy sector, including power, coal, gas, renewable energy, non-renewable energy, clean and green energy, power transmission and distribution equipments and financing options.

The event will also see the release of the CII–A T Kearney report on ‘Sustaining Growth – Future of Indian Power Sector’. The event is supported by the Ministry of Power, Government of India. The report presents an insight into the changing outlook of the power sector from generators perspective and highlights the success factors for the future.

“The power demand in the base case is expected to grow at a steady rate of 7.5 to 8 per cent till 2017. Further, the low ‘power penetration’ levels indicate large latent/unmet demand. The power markets will have to achieve consistent high growth rates to bring our per capita consumption to comparable levels of some of the other countries,” says the yet to be released report.

The report also presents emerging perspectives across all major fuel types such as thermal (coal & gas), hydro, nuclear and renewable. It also highlights the change in market dynamics in terms of demand-supply, regulations and operational challenges.

The expo is sponsored by the leaders in the energy sector, including WinWinD, Suzlon, ACME, Aggreko, Quippo Rental Energy, Forbes Marshall Enercon India and Adani Power. -Indian Express

A brief aspect of the IPO scam that had rocked the stock market 2006 and then the KYC guidelines were bought into the whole juncture and the concept of disgorgement was bought into the picture. A brief synopsis of how what happened and then we go ahead with our detailed story.
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When the Securities Exchange Board of India (Sebi) started scanning an entire spectrum of IPOs launched over 2003, 2004 and 2005, it ended digging up more dirt and probably prevented a larger conspiracy to hijack the market.
Here is a lowdown on the IPO scam:
> What is the scam?
It involved manipulation of the primary market—read initial public offers (IPOs)—by financiers and market players by using fictitious or benaami demat accounts.
While investigating the Yes Bank scam, Sebi found that certain entities had illegally obtained IPO shares reserved for retail applicants through thousands of benaami demat accounts.
They then transferred the shares to financiers, who sold on the first day of listing, making windfall gains from the price difference between the IPO price and the listing price.
> What is an IPO?
An IPO is the first sale of an entity’s common shares to public investors. When an entity wants to enter the market, it makes its share available to common investors in form of an auction sale.
Each application for an IPO has to be within a cut-off figure, which is eligible for allotment in the retail investors’ category. But in this case, financiers and market players illegally cornered these retail investors’ shares.
> When was the scam detected?
The IPO scam came to light in 2005 when the private ‘Yes Bank’ launched its initial public offering. Roopalben Panchal, a resident of Ahmedabad, had allegedly opened several fake demat accounts and subsequently raised finances on the shares allotted to her through Bharat Overseas Bank branches.
The Sebi started a broad investigation into IPO allotments after it detected irregularities in the buying of shares of YES Bank’s IPO in 2005.
> What triggered the Sebi probe?
On October 10 last year, an Income Tax raid on businessman Purushottam Budhwani accidentally found he was controlling over 5,000 demat accounts. Sebi finds this suspicious.
On December 15, Sebi declared results of its probe, how a few people cornered a large chunk of YES Bank IPO shares.
On January 11 this year, Sebi discovered huge rigging in the IDFC IPO.
Roopalben Panchal was found to be controlling nearly 15,000 demat accounts.
It was found that once they obtained these shares, the fictitious investors transferred them to financiers.
The financiers then sold these shares on the first day of listing, reaping huge profits between the IPO price and the listing price. The Sebi report covered 105 IPOs from 2003-2005.
The Sebi probe covered several IPOs dating back to 2005, 2004 and 2003 to detect misuse. These included the offerings of Jet Airways, Sasken Communications, Suzlon Energy, Punj Lloyds, JP Hydro Power, NTPC, PVR Cinema, Shringar Cinema and others. A lot more dubious accounts across several IPOs are expected to tumble out in the next few days.
It also detected similar irregularities in the IDFC IPO, in which over 8 per cent of the allotment in the retail segment was cornered by fictitious applicants through multiple demat accounts.
> Who is Roopalben Panchal?
Roopalben Panchal of IndiaBulls Securities is allegedly the mastermind of the scam. Finance Ministry officials are expected to act against her soon.
> How is this different from Harshad Mehta’s scam?
The securities scam involved price manipulation in the secondary market, read stocks. Whereas in this case, the manipulation happened in the primary market—even before the shares (IPOs) entered the stocks market.
This time, fraudsters targeted the primary market to make a quick buck at the expense of the gullible small investors.
Direct Participants (DPs) used retail applicants’ shares for reaping benefits in the stock market.
> How big is the scam?
Apart from the YES Bank fraud, Sebi reportedly has definite data about two IPOs where retail allotments were rigged, but market observers believe the scam is far bigger. The Yes Bank and IDFC cases are only a tip of an iceberg, say analysts.
The Sebi probe has identified more operators and some market intermediaries involved in the misuse of the initial allotment process in public offerings dating back to ’04-05.
The Income-Tax Department in Ahmedabad has found that two major accused, Panchal and Sugandh Investments, have together made Rs 60.62 crore in 18 months.
Role of Depository Participants
> Suzlon Energy IPO: Rs 1,496.34 cr (September 23-29, 2005)
Key operators used 21,692 fictitious accounts to corner 3,23,023 shares which is equal to 3.74 per cent of the total number of shares allotted to retail individual investors.
> Jet Airways IPO: Rs 1899.3 crore (Feb 18-24, 2005)
Key operators used 1,186 fake accounts for cornering 20,901 shares which is equal to 0.52 per cent of the total number of shares allotted to retail investors.
> National Thermal Power Corporation IPO Rs 5,368.14 crore (Oct 7-14, 2004).
12,853 afferent accounts were used for cornering 27,50,730 shares representing 1.3 per cent of the total number of shares allotted to retail investors.
> Tata Consultancy Services IPO: Rs 4,713.47 crore
14,619 ‘benami’ accounts were used to corner 2,61,294 shares representing 2.09 per cent of the total shares allotted to retail individual investors.

Source : http://ibnlive.in.com/news/ipo-scam-what-when-who-and-how/8980-7-single.html

Well the story goes that in Ahemdabad , a man can do anything for his 2% and this is were the crux of whole matter evolves. Ipo financing and dabba trading are those jargons that we have always heard. But till this scam was unearthed, we never knew how they use to operate. Some unfortunate things that I have noticed, that people do all these trading or IPO scam in the name of their wife, Son, etc.

Our story this time evolve around Dhaval Mehta and Himani patel , both have been convicted for cornering of share in IPO of Suzlon and IDFC in case of Dhaval and Suzlon in case of Himani. The names of the accused haven’t been changed and are as same as the source i.e SAT order.

In case of Himani Patel , She claims and is a IPO financer, for which is not registered under any law and or any provisions. She funded 61 benami applicant who intake had 635 different demat A/c and they made 645 multiple application for 96shares amounting Rs. 48960/- , interestingly the reason the amount was kept 50,000 is that the formality of giving PAN CARD can be evaded. The money for the same was routed through 22 different bank accounts in which himani patel was the first holder. On the basis of the allotment each application got 16 shares total numbering 10160 shares of suzlon. . These These shares were off market transferred to Himani Patel’s demat a/c prior to listing . the shares were sold for more than Rs.839/- compared to the ipo price of Rs.510/-. Rs. 33,52,636/- amount was illegally earned by her.

Sebi post investigation asked her to disgorge the above amount and also leveled a penalty of 55 lakhs.

In case of Dhaval Mehta , was a bigger than Himani as such .
As stated by him he borrowed a sum of 16 crores from Ashmi Financial Consulancy pvt ltd at X% rate. ( as I had mentioned earlier its all about this 2% interest , that every person wants to earn in ahemdabad). Well he lent this money to 4580 applicant out which 3870 applied for shares of Suzlon and 719 applied for IDFC. In some case 100% funding was arranged and in some case 50% was arranged and in some case rest was arranged by Centurian Bank. Similar, to the earlier case all the applicant applied below Rs.50,000 so that they don’t need to comply with certain documentation requirement. Similarly, the shares were off –market transferred to Dhaval’s account. The illegal gains made by him was Rs.1,43,67,775/- Well strangely the whole time member of SEBI , asked him to disgorge Rs.72 lacs. We should really ask him what happened to the rest of the amount. Wasn’t that illegal too, or he still has reservation.

Well here is similarity and here is some food for thought for SEBI. 1st both are IPO operators and their preliminarily aim to accumulate as many shares as possible or retail share holders. They were held guilty on the a/c that there were cornering shares illegally and that this was against fair market policy. The worst part was that the transaction were completed in 2005 and 2006 and they realized it in late 2006. Both these people were just intermediaries and were just out there to make their 2% interest in case of Dhaval Mehta. Similarly, the irony was that the disgorged amount was nearly 50lacs less in case of Dhaval. Was this used to betterment of investor, I have no clue on that. But finally something which was validly argued by appellant side and that was that there is no explicit law that bars multiple applications. If you actually read the DRHP all it states that retail applicants can only make 1 application and multiple would be rejected. So on a plain read, what you understand is that if multiple application is made , they would be rejected.

Still multiple application were made and shares were allotted. This shows the fact the registrar of the IPO doesn’t have any provision to scrutinize in case the same address is being repeated. In both the case the Address used by the benami application were same, the only thing that changed was if her name is himani patel. The second application would have H. patel , Himani P. H.P, etc . So this shows the fact that the registrar has no facility to block any of the same.
Most of money lending happens on oral contract and the system in Ahemdabad is intact and no1 messes with the other person. So there is model code which is existent still and you could see that in the shares of ATLANTA.

Welcome to post IPO scam Sophistication. Now this happens in much legal ways and there is no way you can stop the same. Remember the last cycle of IPO’s like the Rpower of the world. So how does it happen? Big time financer transfers 1lakh each to the a/c of the multiple applicants. Who in all terms would apply for the shares in IPO worth 1 lac. Then the deal is simple to sell on listing or on his request / given price. Once the money is credited the applicant issues a check and to financer after deducting Rs. 2000/- as his commission to apply for the same. Now though the shares may list at premium the financer would be obliged to pay Rs.2000/- to the applicant for his effort/ risk. This method is fool proof and don’t find any loop hole as such legally, But as retail applicant I am still losing my shares and there is till cornering.

The writer has interest in stock market and enjoys reading about various scams that happen and spread the knowledge to investors. The source of his blog is SAT orders and SEBI orders. If there is any discrepancy in the may have happened inadvertently.

Forbes has just launched a business magazine focusing on India and has done a great — if wordy — story on the Indian wind turbine maker, Suzlon.  Suzlon is the story of an entrepreneur — Tulsi Tanti — who sold his inherited textile business to start from scratch a renewable energy business installing and servicing wind farms in India.

Tanti ventured into manufacturing small wind turbines and expanded into the larger 2 MW+ turbines to exploit the supply-demand gap and long lead times required by the industry leaders, Vestas and GE.  It was an ambitious run that resulted in big sales in the U.S. and Europe but came undone by inferior technology.  Suzlon’s turbines broke and were often incompatible with grid systems in the U.S.  Along the way, Suzlon also made a German acquisition that was poorly executed.

The result is a company now straddled with debt, slowing orders and falling market share, a demoralized work force following the departures of its CEO and CFO, and a failing reputation.  Tanti, however, cannot be faulted for not being ambitious enough and, knowing what he has accomplished, a turnaround would not be surprising.

Global Wind Turbine Market Share in 2009

This website provided the top 10 largest wind power companies sorted by MW installed in 2007:
1. Vestas (Denmark) 4,500 MW
2. GE Energy (United States) 3,300 MW
3. Gamesa (Spain) 3,050 MW
4. Enercon (Germany) 2,700 MW
5. Suzlon (India) 2,000 MW
6. Siemens (Denmark / Germany) 1,400 MW
7. Acciona (Spain) 870 MW
8. Goldwind (China – PRC) 830 MW
9. Nordex (Germany) 670 MW
10. Sinovel (China – PRC) 670 MW

The following figure is taken from Enercon’s presentation:

The following figure is taken from Vestas’s presentation:

Combining the figures above which has the same source from BTM Consult:
Companies                 2008              2007             2006
1. Vestas                      19.8%         22.8%            28%
2. GE Wind                   18.6%         16.6%            16%
3. Gamesa                    12.0%         15.4%            16%
4. Enercon                    10.0%         14.0%            15%
5. Suzlon                       9.0%          10.5%             8%
6. Siemens                    6.9%            7.1%             7%
7. Sinovel                      5.0%            3.4%               -
8. Acciona                      4.6%            4.4%             3%
9. Goldwind                   4.0%            4.2%             3%
10. Nordex                    3.8%            3.4%             3%
11. Others                   17.6%          10.5%             5%
12. REpower                  -                    -                   3%

From the data above, the top European’s market share has shrink from 75% to 57% over 3 years. Watch out for the rising Chinese companies (Sinovel and Goldwind)! See the Reuters news on “China seen surging to top wind turbine maker in 09“.

TATAMOTORS @290 (300609) gets 967 panch-tattva points and it will be OK to buy it in range of 250-270 for long term.

SUZLON @103 (300609) gets 854 panch-tattva points and it should be sold on surges if in stock, for buying wait till next result.

INFOSYSTCH @1776 (300609) gets 1036 panch-tattva points andthis may be bought for medium term and particularly on days of decline.

Mumbai, May 25 The Tanti family, promoters of Suzlon Energy Ltd, on Monday reported the sale of about 60 million shares or about 4 per cent of the paid-up share capital of the company. Funds raised from the sale would be used for completing its long-pending acquisition of REpower of Germany.

Post-sale, the total promoter shareholding in the company stands at about 60 per cent. The company has not stated the sale price of the shares.

Company sources said that the shares were sold at about Rs 87 per share and it mopped up about Rs 522 crore.

On the BSE, the intraday movement of the stock was volatile and at the closing on market hours it was traded at Rs 89.05 (Rs 94.10) a decline of 5.37 per cent.

On behalf of the family, the Chairman and Managing Director of Suzlon, Mr Tulsi Tanti, in a press release said, “Funds raised through the sale of this stake are going to be used primarily to advance inter-corporate deposits through promoter group entities to the company to part-finance the buyout of the stake held in REpower Systems AG by Martifer SGPS. This stake sale will ensure that the overall timeline in implementation of REpower integration is not delayed.”

Mr Tanti said that the promoters will not be required to sell additional shares in the near future.

Suzlon had finalised a revised payment schedule in December 2008 for acquiring Martifer’s 22.4 per cent stake in REpower. Under this, Suzlon would pay the Portugal-based Martifer €65 million in December, €30 million in April and the final tranche of €175 million in May. On completing this transaction, Suzlon would hold approximately 91 per cent stake in REpower.

On May 13, one of the promoters had sold a 2 per cent stake through a block deal for about Rs 235 crore. The money was to be used to redeem some pledged shares and to make payments of outstanding amounts for wind turbines supplied and installed by Suzlon for some promoter-owned companies.

According to a sector analyst with a leading stock broking firm,the sale of shares by the promoters is a positive sign as it signals that the company is serious about acquiring REpower. The market reaction to the stake sale is surprising but it will take a few days to correct, according to the analyst.

Source : BL

Cat costa investitia in energie eoliana

Suzlon: Un MW pe eolian costa 1 mil. €, mai putin cu 20%

Pretul total al unui megawatt (MW) instalat in centrale eoliene a scazut cu aproximativ 20% anul acesta fata de 2008, ajungand la circa 1 mil. euro, pe fondul crizei financiare, a declarat pentru Business Standard Peter Rosenberg, senior sales manager al companiei Suzlon Wind Energy, parte a grupului Suzlon, furnizorul numarul cinci mondial de turbine, prezent si pe piata locala.

“Pretul de piata pe un MW eolian a ajuns la circa 1 mil.euro, fata de 1,2-1,3 mil. euro in urma cu un an, scazand costul echipamentelor, al serviciilor sau cel cu instalarea. Si noi am redus pretul, in toata piata s-a intamplat acest lucru”, a spus oficialul. Compania a incheiat pana acum in Romania un singur contract de livrare turbine cu portughezii de la Martifer, pentru o capacitate de 60,9 MW, ce va fi instalata la Babadag (jud. Tulcea). Pentru a asigura service-ul echipamentelor si lucrarile de mentenanta, Suzlon si-a deschis anul trecut in noiembrie o reprezentanta locala, care va furniza servicii si pentru proiectele viitoare, posibil si pentru cele derulate in Bulgaria. De altfel, Suzlon se afla in discutii cu doua companii care vor sa dezvolte proiecte eoliene pe plan local cu o capacitate totala de circa 120 MW. Potrivit lui Rosenberg, una dintre tendintele pietei este ca dezvoltatorii sa mearga pe proiecte cu capacitati de pana la 6-10 MW, care sa fie extinse cand piata isi va reveni.

Sursa: Business Standard

Radu Voinescu

Energie eoliana

Starting with home ground itself !

Suzlon Foundation’s strategy focuses on its three brand pillars of ‘Engage, Empower and Sustain’.

Focus areas:

• Livelihood
• Education
• Civic Amenities
• Health
• Environment

Brief of some projects:

1. Anandshala in Waghodia, Gujarat in collaboration with CEE (Centre for Environment Education)

• Initiate the process of up gradation of the quality of education, imparted in schools
• Develop demonstrative model of Anandshala in order to co-relate formal education with life skills activities
• Strengthing the existing education institutions in the region
• Enhance relations among institutes, individuals, and other stakeholders for future development

       2. Introduction to Basic technology in High Schools Dhule, Maharashtra in collaboration with Indian Institute of Education

• Imparted training in 20 technologies namely welding, preparing food products, carpentery and so on
• Infrastructure facilities developed to impart training in high schools

       3.  Distribution of Solar Lanters in Rajasthan and Madhya Pradesh

• Distributed 123 Solar Lanters in Rajasthan and 212 in Palsodi, MP
• Working potential of the people has increased due to the use of Solar Lanters
• Students can study in the evenings with the availability of adequate light
• Traveling at night for villagers is lot safer

        4. Polytechnic Reform Project in Gujarat

• Short listed 5 Government Polytechnics for the pilot project
• Identified the gaps that hinder the growth of an education system
• Soft skills came out to be the highest need right now among both faculty and students
• Systems and process very lengthy which hardly leaves much time with the faculty to take classes
• Maintenance of equipments a major concern
• Obsolete technologies being used, not in line with what the industries use currently

These are just some of the projects that the foundation has undertake for more information check: http://suzlonfoundation.org

Indian wind turbine maker Suzlon Energy Ltd said yesterday a unit had secured an order to supply 80 wind turbines in China with total power generation capacity of 100 megawatts.
The company did not disclose financial details of the transactionVietnam, Russia to enhance auditing tiesThe Russian Audit Chamber (RAC) is willing to cooperate with its counterpart in Vietnam to enhance auditing cooperation, citing the chamber`s chairman.Sergei Vadimovich Stepashin, chairman of RAC made the remarks when meeting with Vietnamese President Nguyen Minh Triet.Courtesy:Macau Daily Times

Source: PETROLEUM BAZAAR

AGL Energy has signed an agreement with wind turbine manufacturer Suzlon’s Australian operations arm, Suzlon Energy Australia, under which Suzlon will supply 54 units of its S88 2.1MW wind turbine generator translating to 113.4MW of capacity, for installation in Australia in 2009.

The turbines will be used in AGL’s pipeline of projects in Australia. This agreement builds on the existing relationship between Suzlon and AGL that reportedly offers mutual advantages.

Dan Hansen, CEO of Suzlon Energy Australia, said: “We are very pleased to enter into another repeat order with AGL and continue the excellent relationship between our organizations, based on mutual trust, respect and sharing of values.

“This order is testament to AGL’s confidence in Suzlon’s product and our local team’s expertise and capability to deliver renewable power plant solutions throughout Australia.”

Wind turbine manufacturer Suzlon Energy has established a wind farm site to utilize solar energy to power site operations in Adwadi, Nasik in Maharashtra.

As most wind farms are located in remote and often underdeveloped regions, small back-up diesel generators are sometimes needed for basic requirements at the site offices. Working to cut down even these minimal carbon emissions, Suzlon has undertaken a pilot project to power a project site office with solar power.

The project features 20 photovoltaic panels supplied by Tata BP Solar that provide power to the site office as well as the project yard. It eliminates the need for generator sets, eliminating diesel and oil consumption, emissions and providing long term cost savings.

Rohit Modi, president of India business for Suzlon Energy India, said: “At Suzlon, we realize the importance of social responsibility and environmental integrity. This project is another step forward in our commitment to powering a greener, emission free future, and we aim to replicate this initiative across our sites in the country.”

Source : EC

The games political and corporate crooks play

Tulsi Tanti and Amar Singh contributed a total of 8 crore rupees to The Clinton foundation. That money could have generated jobs and possibly saved lives in India. It could have financed a year of supplies to every rural school in India. How can we, as a poor nation that we really are make an example of these illiterate self-proclaimed overlords of the masses? And I don’t think a mobile phone poll is enough.