Troubled turbine manufacturer Suzlon has said its “revival” is not dependent on a single option, after reports that Vestas had backed away from investing in the company.
The India-based outfit said it is continuing to work on “significant debt reduction alongside our lenders”.
“We wish to clarify that Suzlon’s debt resolution and revival plans have never been dependent on any single option,” a statement said.
The company issued the statement after officials at the National Stock Exchange of India sought clarification following reports last week suggested Suzlon withdrew an offer to repay its lenders.
Bloomberg reported that Vestas had stopped supporting the deal.
In May, Suzlon reported debt of Rs11bn for the end of the fiscal year 2019 with a total loss for the 12 months of Rs1537 crores (€195m).
The turbine company’s share price was trading down 12% on Tuesday.