India's Suzlon Energy Ltd. may seek a Japanese partner to make offshore wind turbines, attracted by access to cheap yen loans as projects at sea get costlier and more complex.
Suzlon, whose German unit Senvion SE is the third-biggest supplier of offshore turbines, is in talks with Japanese companies about forming a potential joint venture, Suzlon Chairman Tulsi Tanti said in an interview in Mumbai this week.
"This type of business is very capital-intensive so you must leverage the lowest cost of funds," said Tanti. "Where is that? Japan and the U.S.," he said, adding that Japan is also attractive because it introduced an offshore-specific tariff for wind power this year.