Executive summary
Suzlon, the Indian-owned Wind Energy company, has made its mark in the Indian and Global Wind Energy markets since its inception in 1995. By 2011, the company was the Asian market leader, having completed projects across 32 countries around the globe.
Tulsi Tanti, originally a textile manufacturer founded Suzlon in 1995 to meet the energy demands of his family business textile operations. In those days, India was marred by expensive and unpredictable power grids which lead to rising power costs and frequent electricity outages. In 1994, the Government of India announced incentives for those investing in Wind power. As a part of the scheme the Ministry of non-conventional Energy resources offered capital subsidies and waivers from excise, income and import taxes for renewable energy projects. Tanti saw a promising opportunity and raised $0.6 million for his new wind energy venture. He began by securing selling rights from “SudWind”, the German turbine manufacturer, in India for their turbines. However, in an unexpected turn of events the German company went bankrupt. Determined not to lose this opportunity, Mr Tanti purchased the Worldwide rights to sell SudWind turbines – hiring the manufacturer’s R&D centre in Germany.
Their first project was a ten turbines wind farm for India Power Corporation Limited(IPCL), a petrochemicals company. Suzlon’s successful completion of the project in a record three months helped it build its name. Soon, other projects followed as Suzlon developed a track record for impeccable quality and service. The company’s fate changing event happened when Bajaj Auto commissioned Suzlon to build two wind farms with a combined capacity of 60 MW – this propelled the company into the elite group in the Indian market space. It became the dominant player in the Indian Wind Energy sector, within 6 yrs of its incorporation.