Tulsi Tanti saw an opportunity in India’s renewable energy sector at a time when international companies dominated the global wind power market and were characterized by expensive and complex technologies that were mostly not viable for business. traditional.
Founding Chairman and CEO of Suzlon Energy and renowned renewable energy expert Tulsi Tanti died of cardiac arrest on the evening of October 1. Tanti, 64, who was also president of the Indian Wind Turbine Manufacturers Association, was en route to Pune from Ahmedabad when he suffered the cardiac arrest, a company official was quoted by PTI. He is survived by his daughter Nidhi and his son Pranav.
“With deep sadness, we inform you of the untimely passing of Shri Tulsi R. Tanti, the Founder, Chief Executive Officer and one of the Promoters of Suzlon Energy Limited (the “Company”) on October 1, 2022. Shri Tanti suffered cardiac arrest and died the same day,” the company said in a regulatory filing.
Tanti, born in Rajkot in 1958, was a former textile trader. He graduated from the University of Gujarat with a Bachelor of Commerce. Tanti has served as President of the Indian Wind Turbine Manufacturers Association as well as President of Belgian turbine component manufacturer ZF Wind Power Antwerpen since May 10, 2006.
He conceptualized the end-to-end solution to create realistic pathways for businesses to “go green.” With the creation of Suzlon Energy in 1995, Tanti has been driving the wind revolution in India.
At a time when international companies dominated the global wind energy market and were characterized by expensive and complex technologies that were mostly unviable for traditional companies, he saw an opportunity in the Indian energy sector. renewable.
It has become a strategic partner in the development of sustainable businesses. Under Tanti’s leadership, Suzlon has become a leading player in the global renewable energy market. His vision led Suzlon to establish its R&D centers in Germany, the Netherlands, Denmark and India which employ over 200 engineers.
Ashwani Kumar, CEO of Suzlon Energy, in a letter to company employees, said: “This is by far the most heartbreaking communication I have ever sent.”
“While the world will remember Tulsibhai as the pioneer of wind energy and a warrior against climate change, we know him best as a champion in creating a better world for our future generations. has something that our CMD has taught us is resilience, the will to fight back and the strength to stand up in our worst moments.”
One of India’s leading wind power component manufacturers, Suzlon Energy has announced the launch of its Rs 1,200 crore ‘rights issue’ on October 11, 2022. Under the rights issue, new shares are being offered by a corporation to those who are existing shareholders. The group was looking to repay accumulated debt, fund working capital, and deploy the remainder for general corporate purposes.
First post: STI