Suzlon

Suzlon Energy Limited is an Indian multinational wind turbine manufacturer headquartered in Pune, India. 

It was formerly ranked by MAKE as the world's fifth largest wind turbine supplier.

History 
In 1995, Tulsi Tanti, a Gujarati businessman, was managing a 20-employee textile company. Due to the erratic availability of local power and its rising cost, the highest business expenditure after the raw materials was electricity. The cost of electricity also offset any profits made by the company. After providing electricity for his own company, Tanti moved into wind energy production as a way to secure the textile company's energy needs, 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, banks were hesitant to fund loans for this model, but by 2008, many Indian banks started financing wind power projects for Suzlon clients.

In 2001, Tanti sold off the textile business; Suzlon was still actively run by Tulsi Tanti, now in the role of Chairman, Suzlon Group. In 2003, Suzlon got its first order in USA from DanMar & Associates to supply 24 turbines in southwestern Minnesota. Also in 2003 Suzlon set up an office in Beijing.

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

In the year 2006, Suzlon reached a definitive agreement for acquisition of Belgian firm Hansen Transmissions, specializing in gearboxes for wind turbines, for $565 million. In 2007, the company purchased a controlling stake in Germany's Senvion (then operating as REpower Systems) 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 megawatts 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.

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

In May 2011, Suzlon announced returning to profitability after the financial crisis of 2009.

In October 2011, Suzlon sold its remaining 26.06% stake in Hansen Transmissions International NV to ZF Friedrichshafen AG for .

In the same month, it also achieved full control of its German subsidiary REpower Systems (now Senvion) by acquiring the remaining 5% stake held by minority shareholders that resisted the takeover. The takeover was completed through the squeeze-out procedure by paying EUR 63 million.

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.
In line with the previously announced strategy to dispose of non-critical group assets to reduce long-term debt, Suzlon Chairman said that Suzlon Energy, will sell stake in its China manufacturing unit to China Power New Energy Development Company Limited for 3.4 billion rupees ($60 million).

On 30 November 2013 the Suzlon Group subsidiary REpower Systems (now Senvion SE) won an Engineering, Procurement and Construction (EPC) contract from Mitsui & Co (Australia) Ltd to deliver 52 wind turbines with a total rated output of 106.6 MW for the Bald Hills Wind Farm in Victoria, Australia.

As of August 2014, Suzlon's debt was over  8000 crores. On 22 January 2015, Suzlon announced the sale of Senvion SE, its wholly owned subsidiary, to Centerbridge Partners, a private equity firm in a deal valued at  7200 crores. The deal is expected to ease Suzlon's debt burden. In a further equity infusion, Dilip Shanghvi Family and Associates (DSA), run by Dilip Shanghvi, the founder and managing director of Sun Pharmaceuticals, agreed to purchase a 23 percent stake in Suzlon for a sum of 1800 crores.  The deal will see Tanti's holding shrink to 24 percent, but management control will still remain with the Tanti family. Its total borrowings stood at 11430.76 crore in FY16 from 17810.96 crore FY15.

On 17 January 2017, Suzlon Energy achieved 10,000 megawatts installed wind energy milestone in India. Suzlon's 10,000 MW of wind installation is capable of powering over 5 million households per annum and offsets approximately 21.5 million tonnes of carbon dioxide (CO2) emission annually which is equivalent to planting over 1500 million trees.

To date, the company has fifteen manufacturing facilities and a workforce of over 8,000 employees globally.

The stock price of the company in the Indian stock exchanges peaked in 2008 but recovered from the fall in 2009-2010.

Wind parks 
Globally, Suzlon has installed over 17,000 MW of wind power capacity in 18 countries.

India 
Suzlon crossed 11,000 megawatts of cumulative installations in India. 
Suzlon has cumulatively added over 11000 megawatts of wind power capacity for over 1,700 customers in India across 40 sites in eight States. 
Suzlon accounts for nearly one-third of the country's total wind installations.

Its notable installations in India include:
 The 1064 MW Jaisalmer Wind Park in Rajasthan.
 The 1100 MW wind park in the Kutch district, Gujarat, with plans to expand it to 2000 MW in the next four to six years. As of February 2015, this is the largest wind park in Asia at a single location.
The 650 MW wind park in the Sakri Taluka of Dhule District of Maharashtra. And planning to reach 1000 MW.
 A 584 MW wind park in the Eastern Ghats, (Tamil Nadu).
 The 210 MW Vankusawade Wind Park near the Koyna reservoir in the Satara district of Maharashtra.

In 2012, Suzlon signed an Expression of Interest with the government of Karnataka to develop 2500 MW of wind power in the state between 2012 and 2017.

About 
Suzlon cluster is among the planet's leading renewable energy solutions supplier that's revolutionising and redefining the means property energy sources are controlled across the world. Presence in seventeen countries across Asia, Australia, Europe, Africa and therefore the Americas, Suzlon is powering a greener tomorrow with its sturdy competencies in renewable energy systems. Suzlon’s in depth vary of sturdy and reliable products backed by its fashionable R&D and quite twenty years of experience are designed to confirm optimum performance, higher yields and most come back on investment for the purchasers.

Headquarters 

Suzlon's corporate headquarters, located in Pune, were designed by Prof. Christopher Benninger.

Gallery

See also 
 List of wind turbine manufacturers
 Wind power in India
 Christopher Charles Benninger
 Sustainability
 Sustainable architecture

References

External links 

 

 
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