SUZLON ANNOUNCES 400-MW DEAL WITH PPM ENERGY

Single biggest contract ever for Suzlon

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May 2, 2007

Suzlon Wind Energy Corporation, the US-based subsidiary of Suzlon Energy A/S of Denmark, has signed a contract for a total of 400 MW of wind turbine capacity with PPM Energy of Portland, Oregon, one of the largest wind power developers in North America. The contract calls for delivery of 300 MW of turbine capacity in 2008 and 100 MW of capacity in 2009.

This agreement is the single biggest contract that Suzlon has signed in the history of the company.

"We are exceptionally pleased to have our biggest product pipeline ever with a company considered one of the most professional wind power developers in the industry," said Andris Cukurs, CEO of Suzlon Wind Energy Corporation of Chicago, Illinois. "Suzlon is appreciative of the trust they have extended to our company, and we are looking forward to a long-term relationship with PPM Energy."

"It is an honor to have PPM, with international ties to Iberdrola in Europe, as part of our key customer base," said Per Hornung Pedersen, CEO of Suzlon Energy A/S of Aarhus, Denmark. "The confidence Suzlon has worked hard to establish among the U.S. customer base, we believe, will be transferable around the world."

Suzlon’s S88-2.1 MW wind turbine is the featured machine of the agreement and will be delivered to various ready-to-build sites across the US starting in the summer of 2008.

"Suzlon has been flexible in working with PPM at the ground level on various technical issues, which has enhanced value to PPM and has forged a strong customer-supplier relationship" said Terry Hudgens, CEO of PPM Energy. "We believe our extensive experience with wind power technology, combined with Suzlon’s drive to continually improve is going to go a long way to benefit wind power projects to come."

PPM Energy is part of the IBERDROLA group of companies, the world leader in wind power, with more than 6,500 MW of combined wind power capacity.

The turbine agreement includes the supply of 143 units of the S88-2.1 MW in 2008 and 48 units in 2009. Suzlon is also contracted for operations, maintenance and service of the wind turbines for two years and an option for five, and will do so by expanding its service territory with new facilities to meet demand.

About Suzlon Energy Ltd.
Suzlon Energy Limited is one of the pioneers in the wind energy industry. The company has come to the fore of the business by strategically focusing on innovation and research, an integrated value chain, and entering into emerging and high growth markets to drive sustainable growth.

Given the truly global nature of its business, Suzlon has established a Group management center in Amsterdam, Netherlands, and manages its international marketing effort out of Aarhus, Denmark, while runs its India operations out of Pune, India. The company’s global spread reflects in its projects portfolio - extending across Australia, Brazil, China, India, Italy, Portugal, South Korea and the United States.

Suzlon’s R&D effort also leverages this reach, in a highly successful practice of leveraging skill and knowledge pools in the industry and allied areas the world over. This has resulted in a research and development network located across geographies known for their leadership in the field – Suzlon today drives component R&D from Belgium, turbine development from India and Germany, and aerodynamics research in the Netherlands. Suzlon matches innovation with quality, with systems certified by Det Norske Veritas (DNV) to ISO 9001:2000 standards.

Suzlon is one of the most integrated wind turbine manufacturers – with manufacturing capacity ranging from components to complete wind turbine systems, the entire value chain. The company has established manufacturing facilities around the world, to support the global spread of its operations. Suzlon today has manufacturing facilities in Belgium, China, India and the United States – covering the entire value chain from wind turbine components to complete wind turbine systems. Suzlon has a combined manufacturing base of 2,700 MW of annual capacity, and is undertaking an aggressive expansion program to expand its base to 4,200 MW of capacity by January 2008.

The success of the company’s strategy is seen in its growing market share, repeat orders, and breakthroughs into new markets. Suzlon ranked as the world’s fifth leading wind turbine manufacturer with over 6% of global marketshare in 2005. The company has ranked as the leading manufacturer in the Indian market for eight consecutive years, maintaining over 50% marketshare.

Suzlon’s true strength is seen not only in its technology, quality and market share – but also its people. The company boasts one of the largest teams in the wind energy business, totaling over 9,000 people from over a dozen nationalities in operations around the world. Suzlon in its vision for future growth aims to rank among the top three wind turbine manufacturers worldwide, maximizing growth while maintaining margins for the benefit of all stakeholders. You can view more information on Suzlon at www.suzlon.com.

Suzlon Wind Energy Corporation, which focuses on the North American market, is a subsidiary of Suzlon Energy A/S of Aarhus, Denmark, which has Suzlon Energy Limited as its parent company. The headquarters for North America - based in Chicago, Illinois - feature sales and service offices located throughout the U.S.

About PPM Energy
PPM Energy (www.ppmenergy.com) now has more than 2,000 megawatts (MW) of wind energy in operation or under construction. The strength of its renewable project pipeline has allowed the company to increase its 2010 target by more than 50 percent to at least 3,500 MW developed or controlled by PPM Energy. PPM Energy balances its supply portfolio with sales to wholesale customers, placing almost all of its output in long-term contracts. Major customers include the cities of Seattle, Sacramento, Eugene, Pasadena, and Anaheim, as well as investor-owned utilities such as Xcel Energy and Pacific Gas & Electric Company and the federal Bonneville Power Administration. PPM Energy also creates innovative new products to meet customer needs such as operations and maintenance services and build-to-sell products, and recently announced an expansion of its wind development activities into Canada