TANTI & BAHRAIN ARCAPITA BANK’S JV FOR WIND ENERGY By: BHARAT RATNA
Tulsi R Tanti, CMD of Suzlon
Tanti Group of Companies and Arcapita Bank B.S.C.(BahrainBank), formed a joint venture to invest $2 billion in windenergy by 2012
This Joint Venture to buy Chinese wind energy farms specialistHoniton Energy Holdings for about $500 million
The JV is for to develop a 1,650 Mw portfolio of wind farms inChina through the acquisition of Honiton Energy Holdings Plc.
Tanti family has 26% stake while the Bahrain-based bank hasinvested for 74% stake.
Tulsi Tanti’s Colossus Holdings has formed a joint venture with Bahrain-basedArcapita Bank to buy Chinese wind energy farms specialist Honiton EnergyHoldings for about $500 million.
Bahrain bank to spend $2 bn on wind farmsin Inner Mongolia.
The Tanti family has 26% stake while the Bahrain-based bank has investedfor 74% stake in this joint venture. At present the Tanti family holds morethan 60% in Suzlon Energy. The joint venture partners have signed adefinitive purchase agreement to acquire Honiton.Suzlon Energy Ltd, through Suzlon Energy (Tianjin) Ltd, a wholly ownedsubsidiary of the company has already significant presence in China. Earlierin 2005-06, Suzlon had set up an integrated manufacturing facility in theeastern Chinese port city of Tianjin and invested about $60 million.