The shares of renewable energy major, Suzlon Energy rose after the company said that its lenders have agreed upon a debt restructuring plan.

According to a media report, the lenders have agreed to a debt restructuring plan worth Rs 10,000 crore. The world's fifth largest wind turbine maker has been struggling to deal with its huge debt pile.

Banks and financial institutions including State Bank of India, ICICI Bank, Axis Bank, IDBI Bank, Yes Bank and Power Finance Corporation are among the lenders of the company.

The company has a total debt of Rs 10,829 crore. The restructuring will help the company consolidate its financial position after it recorded a loss of 808 crore during the second quarter of the year. Suzlon faced difficult market conditions with weak domestic sales and high interest costs in the country. However, there are signs of improve as the company was able to record a strong order inflows of about 1.5 GW during the first half of the financial year.

The shares of the company increased over 11 per cent this afternoon after the lenders of the company agreed to restructure Rs 10,000 crore of its debt on Tuesday. After losing some of gains, the shares of the company were trading 8.4 per cent higher at Rs 16.80. The shares have hit a low of Rs 15.45 and a high of Rs 17.15 in trade today so far.