Tulsi Tanti, founder and chairman of wind turbine maker Suzlon Energy Ltd passed away. He was 64. He was born in Gujarat and studied commerce and mechanical engineering. Tanti set up Suzlon in 1995 and spearheaded growth in the Indian wind energy sector by championing affordable and sustainable energy policies.
Tanti started a textiles business and invested in two wind turbines in 1990 because of inadequate power supply in his area, according to a profile note by the UNEP, which named him one of its “Champions of the Earth” in 2009.
About the Tulsi Tanti:
- He was also named a “Hero of the Environment” in 2007 by Time magazine.
- Tanti was also the chairman of the Indian Wind Turbine Manufacturers Association.
- The Pune-based company has a market capitalisation of $1.1 billion with an installed capacity of more than 19.4 GW in 17 countries.
- At one point in 2012, Suzlon was India’s biggest convertible-note defaulter after policy hurdles crimped demand for the company’s wind turbines.
- The company reported a net profit in the April-June quarter after a loss in the same period last year. Shares have jumped about 28 per cent over the past year.