Suzlon Energy, the leading operator in wind energy, has been neck-deep in debt for more than ten years and just lost its charismatic founder-chairman Tulsi Tanti. However, the company is on a strong revival trajectory and is hopeful of returning to its peak years of before 2007.
Tulsi Tanti, who was leading the efforts to revive the company when he unexpectedly passed away on October 1 from a heart arrest, created the pioneering green energy company in Pune in 1995.
MARKET CHART TODAY
The dominant player, Suzlon, manages or provides maintenance for 13,500 MW spanning over 9,000 wind turbines as well as over 6,000 MW internationally, controlling over 30% of the operational domestic wind turbine market. It has a 3,100 MW installed yearly capacity to create turbines throughout its 20 units, but because to financial constraints, it can only produce about 300 MW per quarter.
One day after Tulsi Tanti’s passing, it announced that the planned rights issue, which begins on October 11 and ends on October 20, would proceed as scheduled. The late Tanti’s son Pranav was named as a second director, and the board also named another sibling, Girish, as executive director and vice-chairman.
STABLE AND BRIGHT FUTURE AHAED
Market promises good fortunes for Green ENERGY and Suzlon is far ahead among its other peers.