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Wind power producers sever ties with bankrupt Senvion

 

Wind developers in India are said to have started scaling down or terminating contracts with Hamburg-based turbine manufacturer Senvion after it filed for insolvency in a German court in April. 

Senvion had, though in August said it was spinning off its Indian operations into a separate, standalone business unit. Riyadh-based Alfanar Energy, which had signed a contract with Senvion for a 300 MW project in India, terminated the order and awarded it to SiemensNSE -1.02 % Gamesa Renewable Energy. 

“Since Senvion is facing restructuring issues, which would have compromised our commitment to the timely delivery of the project, we have terminated the contract with them,” said Mohammed Irfan, director, Alfanar Energy Pvt Ltd, India. 


Senvion, in a press release last year, maintained it would supply turbines for a 101 MW project being set up by ReNew Power. However, domestic manufacturer Inox Wind recently said it would provide 38 MW of turbines for the project. “Of the 101 MW earlier awarded to Senvion, 38 MW has gone to Inox. Whether the remaining will be commissioned by Senvion is not known,” said an industry analyst, requesting anonymity 

Senvion India chief executive Amit Kansal declined to comment. ReNew did not respond to email queries. Senvion committed to making over 1,000 MW of turbines for Indian developers. Its application for bankruptcy came after refinancing talks with lenders failed, with the company having run up more than 1 billion euros in debt, reports said. 

Senvion committed to making over 1,000 MW of turbines for Indian developers. Its application for bankruptcy came after refinancing talks with lenders failed, with the company having run up more than 1 billion euros in debt, reports said. 

Senvion committed to making over 1,000 MW of turbines for Indian developers. Its application for bankruptcy came after refinancing talks with lenders failed, with the company having run up more than 1 billion euros in debt, reports said. 

Senvion committed to making over 1,000 MW of turbines for Indian developers. Its application for bankruptcy came after refinancing talks with lenders failed, with the company having run up more than 1 billion euros in debt, reports said. 

The wind power market in Germany, which used to be a global leader in renewable energy, has shrunk in the past year, hurting relatively smaller companies such as Senvion, but not the larger Siemens Gamesa and Vestas. Wind-turbine makers in India too have struggled since February 2017, when the industry transitioned from the feed-in-tariff regime to reverse auction, as there is a relative paucity of projects and orders. 

Referred from economic times, dated Nov - 18 -2019

 

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