Suzlon Pays 30 mn Euros to Martifer for REpower Stake

Suzlon Energy Ltd., India’s largest maker of wind turbines, paid 30 million euros ($40 million) to Martifer SGPS SA as part payment for a stake in a German unit, the Portuguese company said in a statement on its Web site. The money was received yesterday, according to the statement. Suzlon needs to pay the remaining 175 million euros this month to complete the purchase of the 22.4 percent stake in REpower Systems AG, Martifer said. Suzlon paid 65 million euros in December as the first installment for the stake, Martifer said. Suzlon will own about 91 percent in Hamburg-based REpower after completing the transaction, the company said in a statement to the Bombay Stock Exchange on Dec. 16.