According to Tulsi Tanti, chairman of Suzlon Energy Ltd., the debt crisis is causing companies in Europe to postpone wind turbine orders, BusinessWeek reports.
‘A lot of projects are being deferred,’ he said in an interview recorded with Bloomberg TV in Brussels. ‘Small and medium customers are heavily affected by the financial crisis. 2010 will be a moderate year’ for orders.
Companies are delaying orders until they have obtained funding, cutting Suzlon's delivery to six months from 18 months, according to Tanti.
However, Suzlon is expecting Asian demand and offshore projects in Europe to increase orders by at least 20% in the five years ending in 2015.
SOURCE: BusinessWeek Â