Suzlon Group has received additional working capital lines of Inr2300crore ($344m) to help it meet a backlog of orders.
The company said the funds, which as above existing working capital facilities of Inr4300crore, will enable it to “scale up its volumes”.
“These facilities will be the catalyst to help Suzlon tap the growth opportunities in Indian and international markets,” Suzlon said.
Suzlon chief financial officer Kirti Vagadia said: “The additional working capital facilities sanctioned by our bankers will help fuel Suzlon’s business growth and enable us to ramp up volumes rapidly.
“The sanction reiterates the confidence of our lenders in Suzlon’s strategic vision, execution capabilities and the positive environment in the Indian renewable energy sector.”
Image: the money is in addition to existing capital lines (Suzlon)
