Suzlon (India) - A Growth Story |
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Introduction:
Suzlon Energy Limited has made a mark for itself in the field of wind energy not only in India but on the global stage. It is the largest wind turbine manufacturer in Asia and fifth largest in the world in terms of annual installed capacity (Source - BTM Consult APS) .From its inception in 1995, it has shown a phenomenal growth rate to achieve its current position in the wind energy sector in India. When it went public in September 2005, its Initial Public Offering (IPO) was a huge success with the issue oversubscribed 49.5 times. The success story has resulted in Tulsi Tanti, the founder of Suzlon, being named the eighth richest Indian in the world.
History:
Suzlon Energy Limited came into existence in 1995. Tulsi Tanti, its founder first ran a textile mill in Ahmedabad. A large part of the cost of production consisted of the cost of electric power.
wind power
Figure 1
English: Tulsi R. Tanti, Chairman and Managing Dir...With rising costs of power, the company decided to install a wind turbine. The wind turbine was imported from Sudwind, Germany and this led to the beginning of Suzlon Energy Limited. The company entered into an agreement with Sudwind, Germany to gain expertise in manufacturing cost efficient and modern wind turbine generators. Due to some financial problems, Sudwind had to wind up its operations. This opportunity was taken up by Tulsi Tanti and he took on Sudwind's manpower along with its expertise to strengthen his company. This was Suzlon's first foray into wind turbine generators and since then it has never looked back.
Over the last decade, the company has set up several wind farm projects to utilize the power of wind for production of electricity. Also it has invested in wind infrastructure in foreign countries such as Denmark,