Suzlon Group Monetises Non-Core Assets Worth Rs 440 Crore

Suzlon Group has monetised non-core assets worth Rs 440 crore as part of its strategy to become asset-light and fund its growing order book. The company has sold its corporate headquarters to OE Business Park Private Ltd but will continue to occupy the property. Suzlon plans to reinvest in its core business.

Renewable energy solutions provider Suzlon Group has monetised non-core assets worth Rs 440 crore, according to a statement from the company on Wednesday.

This move aligns with Suzlon's broader strategy to become asset-light, thereby unlocking capital to fund the execution of its expanding order book using internal resources. The company disclosed the disinvestment of its Mumbai-based corporate headquarters, One Earth.

The headquarters has been sold to OE Business Park Private Ltd (OEBPPL), a special purpose vehicle backed by funds managed by 360 ONE Alternates Asset Management Ltd. Although Suzlon will continue to occupy the property under a lease arrangement, they also have an option to repurchase shares and securities of OEBPPL in the future.

The sale and leaseback agreement ensures no operational disruption, providing Suzlon the flexibility to optimize lease costs through sub-leasing or licensing parts of the property. Himanshu Mody, Chief Financial Officer of Suzlon Group, highlighted that this monetization aligns with their long-term strategy and commitment to growth, allowing the company to focus and reinvest more in its core business.

(With inputs from agencies.)