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Edison unit cancels order for 150 turbines from India’s Suzlon Eneergy
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Monday, India’s largest turbine maker Suzlon Energy Ltd. announced in a filing with the Bombay Stock Exchange that U.S. energy supplier Edison Mission Energy, a unit of Edison International, cancelled half of the 300-unit order for 2.1-megawatt turbines, due in 2009.
The contract provided Edison Mission delivery of 150 units in 2008 and 150 units in 2009, with the option to choose to cancel the second phase of the order. Consequent to the order cancellation, Suzlon’s order backlog will be reduced by 315 megawatts.
Blades of turbines bought from Suzlon began cracking at three of Edison’s wind-power sites. Edison is trying to find out the cause for the cracked blades, which are already facing design problems.
EIX closed Monday’s regular trading session at $51.85, up 58 cents. EIX has trended the past year in the range of $46.81 – $59.57 on a volume of 1.34 million shares.
by RTT Staff Writer
10 June 2008
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