𝐄𝐱𝐞𝐥 𝐚𝐧𝐝 𝐒𝐮𝐳𝐥𝐨𝐧 𝐝𝐞𝐞𝐩𝐞𝐧 𝐥𝐨𝐧𝐠-𝐭𝐞𝐫𝐦 𝐰𝐢𝐧𝐝 𝐩𝐨𝐰𝐞𝐫 𝐩𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐚𝐧𝐝 𝐬𝐢𝐠𝐧 𝐚𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭 𝐰𝐢𝐭𝐡 𝐩𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐯𝐚𝐥𝐮𝐞 𝐞𝐱𝐜𝐞𝐞𝐝𝐢𝐧𝐠 𝐄𝐔𝐑 𝟏𝟎𝟎 𝐦𝐢𝐥𝐥𝐢𝐨𝐧
Exel Composites and Suzlon Energy Limited are expanding their collaboration with a new multi-year supply agreement for pultruded carbon fiber planks used in wind turbine blade spar caps. At the time of signing, the parties estimated that the potential value of future deliveries under the agreement will exceed EUR 100 million through March 2029. Under the agreement, Exel Composites’ India-based joint venture Kineco Exel Composites India (KECI) will supply an agreed share of Suzlon’s requirements for the products covered by the agreement. The final value and timing of deliveries may vary depending on Suzlon’s actual production requirements and the resulting order volumes. Building on an established partnership The agreement builds on a collaboration that began in 2024 and supports the continued ramp-up of Exel’s manufacturing operations in India. Exel and Suzlon began working together in 2024 under a two-year supply agreement. The collaboration led to the approximately EUR 10 million pur...