Suzlon bags order from Uruguay

Wind turbine maker Suzlon today said it has bagged an order for setting up a 65 MW project in Uruguay. "Suzlon Group announced a new contract win in Uruguay with a 65 MW project. The project is located in the southern Department of Colonia in the South American country," Suzlon said in a statement.

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However, the company did not disclose the financial details of the order. The project will be developed by Rouar SA, a joint venture between UTE, Uruguay's state-owned utility, and Brazilian utility Eletrobras, the largest in Latin America.

The wind farm will be supplied with 31 units of 2.1 MW wind turbine. Suzlon will be responsible for full EPC (engineering, procurement and construction) delivery for the project, scheduled for completion in September 2014, the statement said.

"We hope this first experience with Suzlon will be successful, and accomplish with our demanding project deadlines and quality standards," Gonzalo Casaravilla, President, UTE, said in the statement. "This is a major order for the company and a big step forward in our push into South America. We are very pleased to deliver our first project in Uruguay and to partner with both UTE and Eletrobras through Rouar SA, and look forward to a long and constructive relationship," Tulsi Tanti, Chairman Suzlon Group, said.

On October 14, 2013, Suzlon Energy closed at Rs 7.34, up Rs 0.37, or 5.31 percent. The 52-week high of the share was Rs 26.90 and the 52-week low was Rs 5.72.

The latest book value of the company is Rs 10.89 per share. At current value, the price-to-book value of the company was 0.67.

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