Suzlon Energy Ltd

Type	Public
Traded as	BSE: 532667 NSE: SUZLON
Industry	Renewable energy
Founded	1995
Headquarters	Pune, Maharashtra, India
Key people	Tulsi Tanti, Founder, Chairman & MD
Products	Wind Turbines
Revenue	$5.4 billion (2009)[1]
Employees	15,000
Parent	SUZLON
Subsidiaries	REpower(Over 100 % Ownership)
Website	www.suzlon.com

Suzlon generators behind a vintage gas pump at the Bluegrass Ridge Wind Farm in King City, Missouri

Suzlon Energy (BSE: 532667, NSE: SUZLON) is a global wind power company based in India. In terms of market share, the company is the fifth largest wind turbine manufacturer by cumulative installed capacity worldwide with approaching 20,000MW of installations in 28 countries. Suzlon consists of Suzlon Energy Limited (SEL), India, (The Company) and 78 subsidiaries (13 Indian and 65 international). Suzlon is present in 32 countries across six continents: North and South America, Asia, Australia, Europe, and Africa

With headquarters in Pune, it has several manufacturing locations in India, including Coimbatore, Padubidri, Vadodara, Daman, Dhule, Chakan, Gandhidham and Puducherry. There are also locations in mainland China, Germany and Belgium. The company is listed on the National Stock Exchange of India and on the Bombay Stock Exchange.

Company description[link]

Suzlon is a vertically integrated wind power company. Suzlon delivers end-to-end wind power solutions from assembly, installation to commissioning.^[2] The company manufactures blades, generators, panels, and towers in-house and state-of-the-art large or offshore turbines through its subsidiary REpower. The company is integrated downstream and delivers turnkey projects through its project management and installation consultancy, and operations & maintenance services. Suzlon is a multinational company with offices, R&D and technology centers, manufacturing facilities and service support centers spread across the globe.

Suzlon has design and R&D teams and facilities in India, Germany, Denmark and The Netherlands to retrofit blades for clients. The international sales business of Suzlon is managed out of Aarhus, Denmark, while its global management office is in Pune, India.

Suzlon and Elin EBG Motoren GmbH of Austria have entered into a joint venture Suzlon Generators (P) Ltd to manufacture slip ring generators required for wind turbine generators (WTGs) at the former's manufacturing facility at Pune in Maharashtra.^[3]

Suzlon Energy Limited (SEL), India’s largest wind turbine manufacturer, announced crossing 8,000 MW (megawatt) of cumulative installations in India, underlining the strong momentum in India's fast growing wind energy market^{[citation needed]}. This cumulative power generation capacity has the potential to light up four million homes annually. Suzlon has cumulatively added over 8,000 MW of wind power capacity for over 1,600 customers in India across 40 sites in eight States. Suzlon accounts for nearly half of the country’s total wind installations^{[citation needed]}. In the key states of Tamil Nadu, Maharashtra and Gujarat, Suzlon’s installation base is over 1,000 MW each. Leading corporate such as the Bajaj Group, the Birla Group, MSPL, DLF, the Tata Group, the Reliance Group, the ITC Group, L&T, as well as public sector companies like GSPL, HPCL, Indian Railways, Rajasthan Mines & Minerals, GACL, GSPC, GSFC, Indian Oil, ONGC and State Bank of India (SBI), amongst others, have chosen Suzlon for their wind power projects^{[citation needed]}. Suzlon is India's largest wind turbine manufacturer and has been leading the wind energy market in India for the past 12 years with nearly 50 percent YoY market share. The company has a workforce of 9,000 employees in India, and eight manufacturing facilities across the country.

History[link]

Suzlon's story began in 1995 when founder Tulsi Tanti was managing a 20-employee textile company. Due to the local infrastructure's erratic availability of electricity and because of the rising costs of power, the highest business expenditure after the raw materials was electricity.^[4]

Suzlon was founded by Tulsi Tanti in 1995, when he was working in a family-owned textile company. In that year, India's shaky power grid and the rising cost of electricity offset any profits the company would make.^[5] After providing electricity for his own company, Tanti realized that other companies in India could also greatly benefit from being sold wind power technology and advised on its use. With the help of some of his friends of Rajkot, he moved into wind energy production as a way to secure the textile company's energy needs, and founded Suzlon Energy.^[6] 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 banks were hesitant to fund loans for this model but by 2008 40-50 Indian banks were financing wind power projects for Suzlon clients.^[4]

In 2001, Tanti sold off the textile business, so he could focus on the development of his wind energy business. In 2009, Suzlon is still actively run by Tulsi Tanti, now in the role of Chairman.

In 2003, Suzlon got its first sale in USA, with an order from DanMar & Associates to supply 24 turbines in southwestern Minnesota.^[7] Also in 2003 Suzlon set up an office in Beijing.^[4]

Suzlon Rotor Corporation in 2006 began producing the blades in Pipestone, Minnesota in the United States. Among its clients is Wind Capital Group.^[8]

In the year 2006, Suzlon reached a definitive agreement for acquisition of Belgium firm Hansen Transmissions, specializing in gearboxes for wind turbines, for $565 million. In 2007, the company purchased a controlling stake in Germany's REpower which valued the firm at US$ 1.6 billion.

In June 2007, Suzlon had signed a contract with Edison Mission Energy (EME) of US for delivery of 150 wind turbines of 2.1 MW in 2008 and a similar volume to be delivered in 2009. EME had an option not to purchase the 150 turbines due to be delivered in 2009, which it has chosen to exercise.

In November 2009, the company decided to sell 35% stake of Hansen for $370 million as part of its debt restructuring program, through placing new shares. It appointed Bank of America Merrill Lynch and Morgan Stanley as the managers and book runners for the same.^[9][10][11]

In January 2011, Suzlon received an order worth $1.28 billion for building 1000MW of wind energy projects from the Indian branch of the Lord Swaraj Paul-owned Caparo Energy Ltd.^[12]

In May 2011, Suzlon announced returning to profitability after the financial crisis of 2009 ^[13]

In October 2011, Suzlon sold its remaining 26.06% stake in Hansen Transmissions International NV to ZF Friedrichshafen AG for Rs890Cr ($178 million). ^[14] In the same month, it also achieved full control of its German subsidiary Repower by acquiring the remaining 5% stake held by minority shareholders that resisted the takeover. The takeover was completed through the squeez-out procedure by paying EUR 63 Million. ^[15]

It has to redeem 500 million worth of FCCB's(foreign currency convertible bonds) in 2012 in tranches of 300 million in june and 200 million in october respectively.

Wind parks[link]

Suzlon operates the largest wind park in the world, the 584 MW wind park^{[citation needed]} in the Eastern Ghats-Tamil Nadu. Also, the company operates what was at the time of construction Asia's largest wind park, a 201MW park near the Koyna reservoir in Satara district of Maharashtra - The Vankusawade Wind Park.^[16]

Suzlon will install 45 units of its S88 – 2.1 megawatt wind turbine for AGL at the Hallett Wind Farm to be located approximately 220 kilometers north of Adelaide, in South Australia.^[17]

See also[link]

Wikimedia Commons has media related to: Suzlon Energy

• List of renewable energy companies by stock exchange
• List of wind turbine manufacturers
• Vestas
• Wind Prospect
• Wind power in India
• Hallett Wind Farm
• Solar power in India
• Suzlon One Earth

External links[link]

• Suzlon
• Windpower farms in India - advantages and disadvantages
• Suzlon's Chief Resigns After 16 Months at Helm
• The Ascent of Wind Power, New York Times, 2006

References[link]

v t e S&P CNX Nifty companies of India As of 19 March 2012: ACC Bajaj Auto BHEL Bharat Petroleum Bharti Airtel Cipla Dabur Dr. Reddy's Laboratories GAIL GlaxoSmithKline Grasim Industries Gujarat Ambuja Cements HCL Technologies HDFC HDFC Bank Hero MotoCorp Hindalco Industries HLL Hindustan Petroleum ICICI Bank Indian Petrochemicals Infosys ITC Limited Jet Airways L&T MTNL Mahindra & Mahindra Mahindra Satyam Maruti Udyog National Aluminium Company NIIT ONGC Oriental Bank of Commerce PNB Ranbaxy Laboratories Reliance Communications Reliance Infrastructure Reliance Industries Siemens SBI SAIL Sun Pharmaceutical Suzlon TCS Tata Motors Tata Power Tata Steel VSNL Wipro Zee

v t e Wind power Wind power Environmental effects History Vehicles Offshore wind power Wind turbine Windmill Kitegen Wind power by country Asia Australia Austria Belgium Canada China Croatia Denmark Estonia European Union Finland France Germany Greece Hungary India Iran Ireland Italy Japan Malta Netherlands New Zealand Pakistan Portugal Romania Russia Scotland Serbia Spain Sweden Turkey UK US Wind turbines Aerodynamics Airborne Darrieus Design Floating Savonius Quietrevolution Small Unconventional Vertical axis Devices in use Wind power industry Consultants Manufacturers Software Wind farm management Wind farms Community-owned List of offshore wind farms List of onshore wind farms Concepts Betz' law Capacity factor EROEI Grid energy storage HVDC Intermittency Net energy gain Storage Subsidies Wind power forecasting Wind profile power law Wind resource assessment

Tulsi R. Tanti
Tulsi Tanti at the World Economic Forum
Born	Rajkot, India
Residence	Pune, India
Occupation	Founder, Chairman and Managing Director of Suzlon Energy
Net worth	US$400 million [2]
Religion	Hindu
Children	2
Website
Suzlon Energy Ltd

Tulsi Tanti is the chairman and managing director of Suzlon Energy, a US $2 billion market cap wind power based company. He, along with his three siblings, own 58% of the company.^[1] He is from Rajkot Gujarat where he started his first venture which was in textiles in Surat called Sulzer Synthetics P. Ltd. later changed name Suzlon Synthetics Ltd. And there after Suzlon Fibres Ltd,, then he moved into wind energy production and founded Suzlon Energy.^[2] He was worth $930 million as per Forbes in November 2008.^[3] However an 85% drop in share price of his Suzlon Energy, precipitated by the global recession and reliability issues with Suzlon's wind turbine blades, caused his net worth to drop to $400 million.^[4]

A commerce graduate and a diploma holder in mechanical engineering, Tulsi Tanti originally hails from Rajkot City Of Gujarat and is presently based in Pune, Maharashtra. Tulsi Tanti was earlier into textiles. He started his textile business with name of Sulzer Synthetics P. Ltd. in Surat, Gujarat. But he found the prospects stunted due to infrastructural bottlenecks. The biggest of them all was the cost and unavailability of power, which formed a high proportion of operating expenses of textile industry.

In 1990, Tulsi Tanti invested in two Vestas wind turbines and realized their huge potential. In 1995, he formed Suzlon and gradually quit textiles. Suzlon Energy is the fifth largest wind turbine manufacturer^[5] in the world (combined with REpower) and the largest in Asia. It is presently building what will be among the world's largest wind parks of its kind at 1,000 MW capacity.

Suzlon is currently concentrating on a global expansion drive. In 2006, it acquired Hansen Transmissions, a Belgian maker of wind-turbine gearboxes, which it subsequently sold to ZF Friedrichshafen in 2011. Suzlon is also building a rotor-blade factory in Minnesota and has invested $60m in a factory in Tianjin, China.

Links[link]

• Forbes Magazine 2006 article - Wind Man

References[link]