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Suzlon Energy buys five solar companies

Suzlon Energy Ltd, a leading renewable power generator in India, has acquired five companies to implement various renewable energy projects across the country, the company informed the Bombay Stock Exchange (BSE).

The companies acquired by Suzlon are: Gale Solarfarms Private Limited, Tornado Solarfarms Private Limited, Abha Solarfarms Private Limited, Aalok Solarfarms Private Limited and Shreyas Solarfarms Private Limited.

Suzlon, however, did not disclose the total power generating capacity of these plants, or the investment related to the acquisitions.

The company informed that these companies, which have been acquired at face value, do not have any operations or assets currently and have been acquired primarily to be used as SPVs for its proposed solar project.

Suzlon recently bought a solar project in Maharashtra of 70 MW.