India's biggest wind-turbine manufacturer, Suzlon Energy has recently said that the company is planning to raise close to 50 billion rupees ($1.1 billion) with an aim to fund its expansion plans and also to repay part of its loans.

It is to be mentioned here that the company will be arranging for the funding with the way of selling its shares on the markets and the Ahmedabad based wind turbine maker also said that it may raise funds via convertible bonds in India or in the overseas markets.

According to a filing made to the stock market, the company said that its board has allowed the company to increase its share capital to 7 billion rupees from 4.45 billion rupees. Analysts are of a view that the company needs to enlarge its presence in markets like China and India to offset the impact of slowdown of orders from Europe.

The Chairman of the company, Tulsi Tanti recently said that he expects the company to return to profit this year. For the record, the company reported a quarterly loss of 9.1 billion rupees in June.