Suzlon Energy is an Indian multinational

wind turbine A wind turbine is a device that wind power, converts the kinetic energy of wind into electrical energy. , hundreds of thousands of list of most powerful wind turbines, large turbines, in installations known as wind farms, were generating over ...

manufacturer headquartered in

Pune Pune ( ; , ISO 15919, ISO: ), previously spelled in English as Poona (List of renamed Indian cities and states#Maharashtra, the official name until 1978), is a city in the state of Maharashtra in the Deccan Plateau, Deccan plateau in Western ...

History

Tulsi Tanti Tulsi Tanti (2 February 1958 – 1 October 2022) was an Indian businessman best known for being the founder and chairman-cum-managing director of Suzlon. He was known as the "Wind man of India" (or India's 'Wind Man') and was the president of the ...

was a

Gujarati Gujarati may refer to: * something of, from, or related to Gujarat, a state of India * Gujarati people, the major ethnic group of Gujarat * Gujarati language, the Indo-Aryan language spoken by them * Gujarati languages, the Western Indo-Aryan sub- ...

businessman managing a small textile company. Due to the erratic availability of local power and its rising cost, the highest business expenditure after the raw materials was electricity. Tanti ventured into wind energy production as a way to secure the energy needs for his textile company and founded Suzlon Energy. Suzlon adopted a business model wherein clients would be responsible for 25% of the up-front capital investment and Suzlon would arrange the remaining 75% on loan. Initially, Indian banks were hesitant to fund loans for this model, but by 2008, many Indian banks started financing wind power projects for Suzlon's clients. In 2001, Tanti sold off the textile business and took over as chairman of Suzlon Group. In 2003, Suzlon ventured into international markets with an order from DanMar to supply 24 turbines in southwestern

Minnesota Minnesota ( ) is a U.S. state, state in the Upper Midwestern region of the United States. It is bordered by the Canadian provinces of Manitoba and Ontario to the north and east and by the U.S. states of Wisconsin to the east, Iowa to the so ...

, United States and set up an office in

Beijing Beijing, Chinese postal romanization, previously romanized as Peking, is the capital city of China. With more than 22 million residents, it is the world's List of national capitals by population, most populous national capital city as well as ...

, China. Suzlon Rotor Corporation began producing the blades in

Pipestone, Minnesota Pipestone is a city in and the county seat of Pipestone County, Minnesota. The population was 4,215 at the 2020 United States census, 2020 census. The city is also the site of the Pipestone National Monument. History Pipestone was platted in Oc ...

in 2006. Suzlon reached a definitive agreement for acquisition of Belgian firm

Hansen Transmissions ZF Wind Power Antwerpen is a business unit of ZF Friedrichshafen, that designs, manufactures and supplies wind turbine gearboxes. History The company was founded in 1923 in Antwerp under the name La Mécanique Générale (LMG). The company soo ...

, specializing in

gearboxes A transmission (also called a gearbox) is a mechanical device invented by Louis Renault (who founded Renault) which uses a gear set—two or more gears working together—to change the speed, direction of rotation, or torque multiplication/r ...

for wind turbines, for $565 million in 2006 and purchased a controlling stake in Germany's

Senvion Senvion S.A. (called REpower Systems SE until 2014) was a German wind turbine manufacturer founded in 2001 in Germany, majority owned by a private equity firm. Senvion as REpower Systems, as it was initially called, was established in 2001 th ...

valued at US$1.6 billion in 2007. In June 2007, Suzlon had signed a contract with

Edison Mission Energy Edison Mission Energy (EME) was an independent power producer based in California, United States. It was owned by Edison International. On December 17, 2012, EME filed for Chapter 11 Bankruptcy Chapter 11 of the United States Bankruptcy Code ( ...

(EME) of the United States for delivery of 150 wind turbines. In November 2009, the company decided to sell 35% stake of Hansen for $370 million as part of its debt restructuring program and appointed

Bank of America The Bank of America Corporation (Bank of America) (often abbreviated BofA or BoA) is an American multinational investment banking, investment bank and financial services holding company headquartered at the Bank of America Corporate Center in ...

Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated, doing business as Merrill, and previously branded Merrill Lynch, is an American investment management and wealth management division of Bank of America. Along with BofA Securities, the investm ...

and

Morgan Stanley Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...

as the managers and book runners. In January 2011, Suzlon received an order worth US$1.28 billion for building 1000 megawatts of wind energy projects from

Caparo Energy Caparo plc is a British company involved mainly in the steel industry, primarily in the design, manufacturing and marketing of steel and niche engineering products. Current affairs Caparo was founded by Lord Swraj Paul, in 1968. Sixteen compa ...

. In May 2011, Suzlon announced returning to profitability for the first time after the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

. In October 2011, Suzlon sold its remaining 26.06% stake in Hansen Transmissions to ZF Friedrichshafen AG for . In the same month, it also achieved full control of its German subsidiary REpower Systems (now

) by acquiring the remaining 5% stake held by minority shareholders for EUR 63 million. In line with the previously announced strategy to dispose of non-critical group assets to reduce long-term debt, Suzlon announced its intention to sell stake in its China manufacturing unit to

China Power New Energy Development Company Limited China Power Clean Energy Development (CPNED), formerly China Power New Energy Development Company Limited (CPNE) and Oriental Investment, is a Chinese renewable energy company established in 2006 and listed on the Hong Kong Stock Exchange. It oper ...

for . In November 2013, Senvion won an Engineering, Procurement and Construction (EPC) contract from

Mitsui Australia is a Japanese corporate group and ''keiretsu'' that traces its roots to the ''zaibatsu'' groups that were dissolved after World War II. Unlike the ''zaibatsu'' of the pre-war period, there is no controlling company with regulatory power. Inst ...

to deliver 52 wind turbines for the

Bald Hills Wind Farm The Bald Hills Wind Farm is an operating wind farm located approximately 10 km south east of Tarwin Lower in South Gippsland South Gippsland, a region of Gippsland in Victoria, Australia, is a well-watered region consisting of low, r ...

in Victoria, Australia. As of August 2014, Suzlon's debt increased to . On 22 January 2015, Suzlon announced the sale of Senvion, its wholly owned subsidiary, to

Centerbridge Partners Centerbridge Partners, L.P. is a multi-strategy private investment firm focused on leveraged buyouts and distressed securities. The firm manages over $56 billion of assets

, a private equity firm in a deal valued at to reduce the debts. In a further equity infusion,

Dilip Shanghvi Dilip Shanghvi (born 1 October 1955) is an Indian billionaire businessman. Shanghvi is the founder of Sun Pharmaceuticals, a pharmaceutical company. The Government of India awarded him the civilian honor of the Padma Shri in 2016. ''India Tod ...

, the founder of Sun Pharmaceuticals, agreed to purchase a 23 percent stake in Suzlon for a sum of . The deal shrank Tanti's holding to 24 percent, but management control remained with the Tanti family. Its total borrowings stood at in FY15-16 from in FY14-15. In May 2024, Suzlon secured new orders from Juniper Green Energy to develop 402 MW wind energy projects in Fatehgarh, Rajasthan. The deal includes installation of 134 wind turbine generators, each with a rated capacity of 3 MW. The market capitalization of Suzlon hits the mark of 1 lakh crore (approximately US$11.6 billion).

Wind parks and facilities

As of 2015, Suzlon had installed over 17,000 MW of wind power capacity in 18 countries. In 2016, the company had fifteen manufacturing facilities and a workforce of over 8,000 employees globally. On 17 January 2017, Suzlon Energy achieved 10,000 megawatts installed wind energy milestone in India. Its notable installations in India include Jaisalmer Wind Park in

Rajasthan Rajasthan (; Literal translation, lit. 'Land of Kings') is a States and union territories of India, state in northwestern India. It covers or 10.4 per cent of India's total geographical area. It is the List of states and union territories of ...

(1064 MW), Kutch in

Gujarat Gujarat () is a States of India, state along the Western India, western coast of India. Its coastline of about is the longest in the country, most of which lies on the Kathiawar peninsula. Gujarat is the List of states and union territories ...

(1100 MW),

Sakri Sakri is a census town and a taluka in the Dhule District of the Nashik division, Maharashtra state, India. The town of Sakri is the administrative headquarters for Sakri Taluka. Another Sakri is in Bihar, which is now a railway junction. ...

Maharashtra Maharashtra () is a state in the western peninsular region of India occupying a substantial portion of the Deccan Plateau. It is bordered by the Arabian Sea to the west, the Indian states of Karnataka and Goa to the south, Telangana to th ...

(650 MW),

Eastern Ghats The Eastern Ghats is a mountain range that stretches along the East Coast of India, eastern coast of the Indian peninsula. Covering an area of , it traverses the states and union territories of India, states of Odisha, Telangana, Andhra Prade ...

Tamil Nadu Tamil Nadu (; , TN) is the southernmost States and union territories of India, state of India. The List of states and union territories of India by area, tenth largest Indian state by area and the List of states and union territories of Indi ...

(584 MW), and Satara in Maharashtra (210 MW).

References

External links

* {{Wind power Electrical engineering companies of India Companies based in Pune Wind turbine manufacturers Engineering companies of India Indian companies established in 1995 Multinational companies headquartered in India Indian brands 1995 establishments in Maharashtra Manufacturing companies established in 1995 Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange

History

Wind parks and facilities

See also

References

External links