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India’s Tanti group in JV with Bahrain firm to acquire Honiton Energy Holdings
Posted by naatmad on Tuesday, 8 July, 2008
MUMBAI (Thomson Financial) – India’s Tanti group of companies, the majority shareholder of Suzlon Energy Ltd., said it formed a joint venture with Arcapita Bank B.S.C., under which the Bahrain-based bank will invest $2 billion by 2012 to develop a 1,650 Mw portfolio of wind farms in China through the acquisition of Honiton Energy Holdings Plc.
Suzlon, the world’s fifth largest wind turbine maker, said the joint venture partners have signed a definitive purchase agreement to acquire Honiton, a Chinese wind energy generation company, which will build the portfolio in China.
The acquisition of Honiton will be done by Colossus Holdings, a Singapore-based holding company of the Tanti group, the release said.
Source CNBC
