India looks to solar; creditors back wind

The week in clean energy saw solar take precedence in the new Indian government's first budget, good news for Asia's second-largest wind-turbine maker and movements afoot on EU carbon politics.

Suzlon hit the headlines last week after it announced on 9 July that its creditors had approved the company's plan to issue up to $US577 million in convertible bonds. The restructuring plan should help Asia's second-largest wind-turbine maker clear a fundraising hurdle. Suzlon is leading gains this year among global wind-energy companies on expectations that its recovery will be underpinned by a deal with bondholders and by a new government in India that favours clean energy. Having not reported a profit since 2009, the company is seeking to recapture demand after its financial woes slowed its ability to carry out orders.


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