Suzlon Energy to set up 3000 MW Wind Energy Farms in AP, India
Suzlon Energy, one of the world’s leading wind turbine manufacturer and wind energy projects developer, said has informed the market that it plans to invest Rs 180 billion in the Indian state of Andhra Pradesh (AP) for development of wind capacity in the state totaling 3000 MW between 2012 and 2016.
Suzlon has entered into a Memorandum of Understanding (MoU) with the AP State Government. Under the MoU, the AP state government will help Suzlon to obtain necessary approvals and clearances for the development of the wind energy farms of 3000 MW capacity. In return, Suzlon will be the preferred wind energy developer and will channel wind energy investments into the AP state through its global customers base. The MoU covers the development of wind energy farms across the state. It should be noted that AP state has the largest coastline in India, and has high potential sites for wind energy that can use Suzlon’s new S9X range of wind turbines.
New Copper ETFs Are In Demand
Copper ETFs are set to be the next big thing in commodities trading. Latest estimate says that China will triple its consumption of copper to 20 million tons by 2020. China will account for 49% of world copper sales by then. With ETFs getting active, copper price is going to be bullish in the coming months. Base metals analysts have predicted that copper price might rise by 50% to $12,000 a metric ton in the next 12 months.
Goldman Sachs, JP Morgan, Deutsche Bank, and BlackRock are leading investors behind new Copper ETFs that would trade on leading stock exchanges like NYSE, while investors derive prices from LME copper index and comex copper futures.
There are already a few Copper ETFs listed across exchanges in the USA, like:
- First Trust ISE Global Copper (NASDAQ: CU)
- Global X Copper Miners ETF (NYSEArca: COPX)
- iPath DJ-UBS Copper (NYSEArca: JJC)
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