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Suzlon energy litigation
- 1. SUZLON ENERGY-LITIGATION BY KREENA DESAI
- 2. ABOUT SUZLON ENERGY • The Suzlon Group was ranked as the world’s fifth largest wind turbine supplier, in 2010. • Headquarters in Pune • Its global spread extends across various countries over 18,000 MW of wind energy capacity installed in 28 countries, operations in 32 countries, a workforce 13,000 employees.
- 3. PRODUCT PORTFOLIOS • Sub-megawatt on-shore turbines at 600 Kilowatts (KW). • 6.15 MW offshore turbine – built on a vertically integrated, low-cost, manufacturing base. • REpower Systems SE, a leader in offshore wind technology.
- 4. Texas based Trinity Files Litigation Against Suzlon Wind Energy Corporation Over $500mn Contract
- 5. ABOUT TRINITY STRUCTURAL TOWERS • It is a wholly-owned subsidiary of Trinity Industries, Inc., and a leading manufacturer of structural wind towers in North America. • Trinity Industries, Inc is headquartered in Dallas, Texas. • It is a multi-industry company that owns a variety of market- leading businesses which provide products and services to the industrial, energy, transportation, and construction sectors. • It reports its financial results in five principal business segments
- 6. AGREEMENT BETWEEN SUZLON AND TRINITY STRUCTURAL TOWERS • Suzlon entered into an agreement in 2008 to purchase approximately $377.3 million worth of TSTI- manufactured 80-meter wind towers on a scheduled basis through 2011. • TSTI and Suzlon mutually agreed for an additional $123.8 million worth of wind towers to be purchased and extending the delivery timeframe through 2013.
- 7. BREACH OF CONTRACT • TSTI has produced and delivered approximately $88.6 million worth of wind towers, excluding price adjustments applicable under the agreement. • After the previous delivery, it breached its contractual purchase obligations for 2010 and 2011. • Also Suzlon has not yet secured its 2012 and 2013 production space for its obligated purchase
- 8. FILING OF LITIGATION • TSTI had to incur damages as a result of Suzlon's alleged breach of its purchase obligations. • Suzlon's remaining purchase commitment under the Agreement, as amended, represents approximately $412 million (377+123-88). • The law suit was filed in the District Court of Dallas County due to an unethical practice by Suzlon.
- 9. THANKYOU…