November 22, 2008

Suzlon inks MoU to strengthen presence in US

It is reported that Suzlon Energy is among 6 others who have signed an agreement with the US government to help the country generate 20% of its electricity using wind power by 2030. The pact may aid Suzlon win more orders for power equipment and improve manufacturing technology.

As per report, US Department of Energy has signed a MoU with GE Energy, Siemens Power Generation, Vestas Wind Systems, Clipper Turbine Works, Suzlon Energy and Gamesa Corporation to improve industrial wind power manufacturing capabilities.

The 6 companies will collaborate to improve the quality of turbine components and to reduce installation and operating costs. Further, the partners, along with the US Department of Energy, will address environmental and technical issues and develop standards for turbine certification and grid connection.

Suzlon has already captured over 8% of the US wind energy market in the recent 2 to 3 years. It has received a supply order of 600 MW in 2 years from Horizon Wind Energy of Texas.

US is the fastest growing wind energy market in the world with 30% annual growth in the last 5 years and with over 25% of the global installed capacity. In 2007, its cumulative wind energy capacity reached 16,818 MW with more than 5,000 MW of wind power capacity added in 2007 at an investment of USD 9 billion. Wind power is the second largest new power generation source in the US now after natural gas.