Suzlon: Textile to Energy
Suzlon was a textile company founded in 1995 by Tulsi Tanti, who managed a team of 20 workers at the time. In 1995, the electric supply was much more erratic and thus the industry was facing downtime issues. The cost of this erratic electricity was also extremely high and eating into any profits made by the company. In came an idea, to provide with quality uninterrupted power supply to all the other companies who are facing such issues.
Suzlon’s main idea was to ask only 25% upfront cost from the customer and arrange for the remaining 75% from bank loans. In this manner they removed the heavy upfront investment objection, which was the biggest reason for anyone not to adopt wind energy. Since 2001, textile business was no longer a part of the Suzlon company and it mainly focused on wind energy and turbines chairmaned by Tulsi Tanti.
List of Suzlons Achievements:
Year | Achievement |
2003 | -Suzlon got its first order in USA from DanMar & Associates to supply 24 turbines in southwestern Minnesota. -Suzlon set up an office in Beijing. |
2006 | -Begins producing the blades in Pipestone, Minnesota in the United States. Among its clients is Wind Capital Group -Reached a definitive agreement for acquisition of Belgium firm Hansen Transmissions, specializing in gearboxes for wind turbines, for $565 million |
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. -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. |
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. |
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. -Suzlon announced returning to profitability after the financial crisis of 2009 - Suzlon sold its remaining 26.06% stake in Hansen Transmissions International NV to ZF Friedrichshafen AG for ₹8.9 billion (US$120 million). |
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. |
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. |
As on date, the company has about fifteen manufacturing facilities and a workforce of over 8,000 employees globally. Globally, Suzlon has installed over 18,800 MW of wind power capacity in 18 countries.
In India
In India Suzlon Energy has crossed 11,000 megawatts of cumulative 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.
On 10th December Suzlon Energy (NSE:SUZLON) climbed 6.4% in a week, taking one-year gains to 103%.
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