The company made this announcement during trading hours today, 7 June 2012.

Meanwhile, the BSE Sensex was up 182.82 points or 1.11% to 16,637.12.

On BSE, 75.12 lakh shares were traded in the counter as against average daily volume of 45.82 lakh shares in the past one quarter.

The stock hit a high of Rs 18.55 and a low of Rs 17.45 so far during the day. The stock had hit a 52-week high of Rs 55.80 on 25 July 2011. The stock had hit a record low of Rs 17 on 4 June 2012.

The stock had underperformed the market over the past one month till 6 June 2012, falling 20% compared with the Sensex's 2.24% fall. The scrip had also underperformed the market in past one quarter, tumbling 35.29% as against Sensex's 4.19% decline.

The mid-cap wind turbine maker has an equity capital of Rs 355.47 crore. Face value per share is Rs 2.

The expression of interest (EoI) signed with the Government of Karnataka covers the development of new capacity in wind farms across the state, with developments planned in the districts of Bijapur, Chitradurga, Tumkur, Dharwad, Chikmangalore, Raichur, Mysore, Belgaum and Bagalkot. The EoI was signed at the Global Investors Meet 2012, in Bangalore on 7th and 8 June 2012. The investment is worth Rs 15000 crore, Suzlon said.

Under the EoI, the Karnataka Government will obtain the necessary permissions, registrations, approvals and clearances for the development of wind farms in the state. Suzlon, in turn, will play the role of a developer and facilitate the flow of investments into the state through its customers investing in wind energy, Suzlon said.

Commenting on the development, Mr Tulsi Tanti, Chairman, Suzlon Group said, "We are extremely pleased to sign this EOI with the Government of Karnataka. This not only reinforces Karnataka's position as one of India's leading markets in wind energy, but also illustrates their commitment towards creating a low-carbon economy in the state".

On a consolidated basis, Suzlon Energy reported net loss of Rs 300.24 crore in Q4 March 2012, compared with net profit of Rs 211.05 crore in Q4 March 2011. Net sales declined 7.9% to Rs 6699.48 crore in Q4 March 2012 over Q4 March 2011.

The Suzlon Group is ranked as the world's fifth largest wind turbine supplier, in terms of cumulative installed capacity, at the end of 2011. The company's global spread extends across Asia, Australia, Europe, Africa and North and South America with over 20,000 MW of wind energy capacity installed in 28 countries, operations across 33 countries and a workforce of over 13,000.