Coal news and updates

Suzlon to buy US-based SPV company

March 31: Suzlon Energy, a leading wind power solutions provider, is going to buy a US- based SPV company and is exploring options to rebalance its capital structure during the next financial year (2014-15).

"Suzlon is … buying a US-based SPV company (‘Big Sky') owning certain assets which were sold by Suzlon to Big Sky, and which were partially financed by Suzlon through a loan and which is now in default," the company said in a filing to the Bombay Stock Exchange (BSE) on March 31.

A formal announcement in this regard will be made shortly, the company said.

It further said: "We would take a relook at our capital structure during the next financial year (FY 2014-15)."