Tulsi R Tanti, CMD of Suzlon • • • • Tanti Group of Companies and Arcapita Bank B.S.C.(Bahrain Bank), formed a joint venture to invest $2 billion in wind energy by 2012 This Joint Venture to buy Chinese wind energy farms specialist Honiton Energy Holdings for about $500 million The JV is for to develop a 1,650 Mw portfolio of wind farms in China through the acquisition of Honiton Energy Holdings Plc. Tanti family has 26% stake while the Bahrain-based bank has invested for 74% stake.

Tulsi Tanti’s Colossus Holdings has formed a joint venture with Bahrain-based Arcapita Bank to buy Chinese wind energy farms specialist Honiton Energy Holdings for about $500 million. Bahrain bank to spend $2 bn on wind farms in Inner Mongolia. The Tanti family has 26% stake while the Bahrain-based bank has invested for 74% stake in this joint venture. At present the Tanti family holds more than 60% in Suzlon Energy. The joint venture partners have signed a definitive purchase agreement to acquire Honiton. Suzlon Energy Ltd, through Suzlon Energy (Tianjin) Ltd, a wholly owned subsidiary of the company has already significant presence in China. Earlier in 2005-06, Suzlon had set up an integrated manufacturing facility in the eastern Chinese port city of Tianjin and invested about $60 million.

Mr Tulsi R. Tanti, Chairman and Managing Director of Suzlon, who is also a Director of Colossus Holdings, in a media statement said, “This investment reinforces our commitment towards the renewable energy sector and belief in the exponential growth potential of wind energy in developing markets like China and India. Honiton, having developed an excellent pipeline of projects and backed by a strong management team, provides us with a good opportunity to further our interests in the wind energy sector along with Arcapita.” Mr Atif A Abdulmalik, Chief Executive Officer of Arcapita said that we have previously built expertise in this sector, which we are very pleased to be extending through this partnership with the Tanti group. We believe this is another high quality investment opportunity in Asia, where we have now done seven transactions, six of which have been completed within the last 12 months. The total transaction value of our Asian portfolio is more than $5bn. Arcapita sourced and executed the transaction out of its Singapore offices. Mr Asim Zafar, head of asset-based business of Arcapita said, "There is universal agreement that China's demand for energy will continue rising strongly from its current levels of 2,500 terrawatt hours annually." Wind energy has developed further than the existing alternatives in its potential for scale and efficiency with an increasing energy demand, rising fossil fuel prices and growing need for clean and renewable energy. Honiton has an excellent asset base as well as a management team with good relationships in China at a regional and state level, which already has a track record of good achievement. This is Arcapita's first investment in China and also Arcapita's first assetbased investment in Asia. Arcapita previously developed and then successfully sold a 391mw portfolio of wind farms located in the UK.