Tantis, Bahrain company power into China

MUMBAI, JULY 7: Promoters of Suzlon Energy, the Tanti Group, have entered into a joint venture partnership with Bahrain-based Arcapita Bank and plans to invest $2 billion by 2012 in China to develop wind farms. The JV has already signed a definitive purchase agreement to acquire a wind energy firm, Honiton Energy, in China. The deal is said to be valued at $500 million.

The Tanti Group is making the investment through its investment and holding company Colossus Holdings. The JV would develop 1,650 MW of wind capacity in China, the company said.

Established in 2005 to develop and operate wind power generation facilities in China, Honiton has 50 MW of installed capacity and a further 100 MW in development. Honiton has secured agreements to develop wind farms on five separate areas in China, representing a total of 2,244 square kilometres, on which it plans to develop its total capacity to reach 1,650 MW by 2012.

Suzlon is currently present in China as an integrated wind turbine manufacturer with 600 MW capacity. Suzlon Energy (Tianjin) is a wholly-owned subsidiary is a pure play equipment supplier and has secured orders totaling nearly 200 MW of capacity for wind farm projects in China.

However, this new joint venture will be ‘an arms length investment’ and may or may not leverage Suzlon’s manufacturing base in China, the wind-turbine maker said. "This investment reinforces our belief in the exponential growth potential of wind energy in developing markets like China and India," Suzlon chairman and MD Tulsi Tanti said.

$2 bn The amount that the Tanti Group, in collaboration with other companies, plans to invest in China by 2012

1,650 The total capacity (in MW) that the Tanti Group’s investment and holding company, Colossus Holdings, plans to reach in China by the year 2012

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