REpower bags order to set up wind power projects in Canada

REpower has concluded a contract with WindWorks Power Corp for supplying 25 wind turbines for five projects in Ontario, Canada

REpower, which is a part of Suzlon group, has bagged orders for setting up wind power projects in Canada. Wind power entity Suzlon has about 95% stake in REpower.

According to statement from Suzlon, REpower has concluded a contract with WindWorks Power Corp for supplying 25 wind turbines for five projects in Ontario, Canada. However, financial details were not disclosed. "The wind farms will generate a total output of more than 50 MW," the statement noted. These turbines are scheduled to be delivered in 2013.

REpower Systems' managing director Helmut Herold said that for Ontario, these projects would not only serve to expand renewable energy sources in the region but also create numerous jobs as well as help in supporting the local economy. REpower Systems is the Canadian subsidiary of REpower Systems SE.
 
In the late afternoon, Suzlon Energy was trading at around Rs34.20 per share on the Bombay Stock Exchange, 4.6% down from the previous close.

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IRB Infra expects 25% jump in toll revenues to Rs1,000 crore in FY12

The order book of IRB Infra stands at Rs11,700 crore, out of which Rs9,700 crore worth of EPC order book will be executed over the period of 3-4 years

Highways developer IRB Infrastructure Developers said it expects a 25% jump in its toll revenues to Rs1,000 crore by end this fiscal.

"We expect a 25% jump in toll revenues to Rs1,000 crore in FY12. There has been an increase in both tariff and traffic," IRB Infra chairman and managing director Virendra D Mhaiskar told reporters following the company's 13th annual general meeting.

The order book of the company stands at Rs11,700 crore, out of which Rs9,700 crore worth of EPC order book will be executed over the period of 3-4 years, he said. Out of 17 projects, 10 projects are already operational, six are under implementation and one is under financial closure.

"Surat-Dahisar and Kolhapur projects works have been almost 95% completed and the Goa project appointed date yet to be received from NHAI due to land acquisition issues," he said. The strong uptick in execution of projects is likely to result in 15%-20% jump in the topline of the company in FY12, Mhaiskar said. The company expects to tie up Rs3,500 crore in debt for a road project by end this calendar year.

"The debt part will be Rs3,500 crore which is 75% of the total cost of 1,000-lane-km Ahmedabad-Vadodara road project, he said.

When asked about the impact of the interest rate hike on the company's projects, he said, "Last year was tough for the infrastructure sector. Stagnation project bidding, rising interest rates and land acquisition issues have been the head winds slowing down the growth in general."

In the late afternoon, IRB Infra was trading at around Rs140.40 per share on the Bombay Stock Exchange, 4.36% down from the previous close.

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Wabco India wins 2 awards from Tata Motors

Wabco India has won the awards for ‘Excellence in Technology and Innovation’ and ‘Excellence in Quality’

Wabco India, a 100% subsidiary of Wabco Holdings, has won the awards for 'Excellence in Technology and Innovation' and 'Excellence in Quality' at an awards function organised by auto major Tata Motors recently.

Wabco India supplies a range of products and braking systems to Tata Motors for its trucks and buses. The awards were presented to Wabco India at a function in Mumbai recently, the company said in a statement.

"Winning two top awards from Tata Motors further demonstrates Wabco's leading position in India as we create value for customers through our world-class local manufacturing facilities and access to our global engineering network," Wabco President-Asia, Mr Leon Liu, said.

Wabco India has over 1,100 employees and reported sales of Rs899 crore in 2010-11, the statement added.

In the late afternoon, Wabco India was trading at around Rs1,200 per share on the Bombay Stock Exchange, 2% down from the previous close.

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