Suzlon Group bags order worth Rs 720 crore: Report

Suzlon Group has reportedly bagged wind-turbine supply order  worth Rs 720 crore  from US-based PowerWorks, reviving its order book after scripting the country's biggest convertible bond default in 2012. Suzlon’s US-based subsidiary, Suzlon Wind Energy Corp (SWECO), has forged an agreement with PowerWorks to supply up to 98.7 Mw of wind turbines.  As per the agreement, Suzlon will supply up to 47 wind turbine generators and will oversee the operations, maintenance and service of the wind turbines for a period of two years. This follows Suzlon's recent move to do a cashless restructuring of its existing foreign currency convertible bonds worth $485 million for five years. Suzlon Group comprises of Suzlon Energy and its subsidiaries, including Repower Systems SE. Suzlon Energy is leader in wind energy in the India, which is world’s fifth largest wind energy market. Its business model has range of services that include development, manufacturing, marketing, EPC project delivery and operations and maintenance of wind turbine generators around the world.