Suzlon gives up control of China business

Continues to restructure its loans.

India’s largest wind turbine maker Suzlon Group has sold 75% of its stake in its China-based manufacturing to Chinese conglomerate Poly LongMa Energy (Dalian). Suzlon Group will continue to hold a 25% stake in the venture, however.

Poly LongMa Energy will take charge of Suzlon’s marketing and sales operations in China with Suzlon acting as technology partner and manager of the manufacturing and quality aspects of the venture.

Suzlon Group chairman Tulsi Tanti said the new joint venture will be very well positioned in China and offer the potential to explore exports. He said Poly LongMa Energ will maintain Suzlon’s strong presence in the world's largest market, which remains strategically important for Suzlon.