Tanti Group unit forms venture to invest in Chinese wind farms

By P.R. VENKATTHE WALL STREET JOURNAL EUROPEJuly 8, 2008

SINGAPORE -- Bahrain-based investment bank Arcapita Bank BSC formed a joint venture with Singapore-based Colossus Holdings, a unit of India's Tanti Group, to invest $2 billion to develop wind farms in China.
The partners signed a definitive purchase agreement to acquire Honiton Energy Holdings PLC, a Chinese wind-energy generation company, with an eye toward developing a 1,650-megawatt portfolio of wind farms in the Inner Mongolia region of China, Arcapita said.
Tanti Group owns Suzlon Energy Ltd., the world's fifth-largest wind-turbine manufacturer by sales. Suzlon, which has expanded rapidly since its launch in 1995, has been moving to improve its technology through the purchase of REpower Systems AG, one of Germany's largest wind-turbine manufacturers. REpower's technology could boost Suzlon's product line and give it access to larger offshore wind technology. The US$1.8 billion deal has been in the works since last year.
Write to P.R. Venkat at venkat.pr@dowjones.com