IPO Watch: October 2005 Archives

Suzlon Energy - India's wind turbine manufacturer who make machines from 350 kw to 2 mw in size - completed its listing on the Bombay Stock Exchange, with the issue reportedly oversubscribed more than 45 times. Suzlon  raised a total of INR 13.6bn (USD 310m).

The company also delivers turnkey wind farms (ones with all the necessary turbines and electrical infrastructure in place literally ready to turn on), most notably Asia's largest in  Vankusawade of 201 mw.

What's impressive is that Suzlon is reaching the required design standards of West European manufacturers - Germanische Lloyd - and is able to sell turbines as far afield as Minnesota USA. Assuming the de-industrialization of Western Europe continues, expect Suzlon to be a key benefactor.

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Australian financial group Babcock and   Brown announced plans to list its partially owned investment vehicle,   Global Wind Partners, on the Australian Stock Exchange. The company will be   renamed Babcock and Brown Wind Partners (BBWP) and  market capitalisation expected to be in the region of AUD   657m-692m.

The newly-listed Babcock & Brown Wind Partners (BBWP) will initially hold stakes in 15 wind farms across Europe, the United States and Australia, with combined generation capacity of 672 MW.

This is one of the widest geographical wind portfolios I've ever seen - a good thing. Each nation's annual wind output can vary hugely, as in Europe in 2003.

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Just before its IPO, German PV cell manufacturer Q-Cells has raised the price range for its   Deutsche Bourse IPO from EUR 29-34 (USD 35-41) to EUR 35-38 (USD 42-46).

What this means is that the company could very well capitalize at over EUR 1.4bn   (USD 1.7bn). Large  capitalizations matter because it makes it easier for big investment funds to take an interest, hitherto a barrier for institutional investors in the alternative energy universe.
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Q-Cells AG as the world’s largest independent producer of mono- and polycrystalline, silicon-based high-efficiency solar cells.

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