India-based wind-turbine maker Suzlon Energy Ltd. said Monday it paid EUR30 million ($39.6 million) to Portugal's Martifer Group to raise its stake in Germany's REpower Systems AG to 76%.
This is the second installment of a total EUR270 million that Suzlon had in December said it would pay to buy Martifer's 22.4% stake in REpower.
The Indian company had paid the first installment of EUR65 million in December to raise its stake to 73.1%.
Suzlon is now scheduled to pay the remaining EUR175 million in May to increase its stake to about 91%, the company said in a statement, without specifying when did it pay the second installment.(WSJ)