PUNE: Tulsi Tanti, the CMD of city-based wind turbine maker Suzlon, died of a cardiac arrest late on Saturday night. He was 64.
Tanti is survived by his wife Gita and children Pranav and Nidhi. He died in Pune shortly after returning from Ahmedabad. He had gone to Gujarat for a series of meetings for the company’s upcoming rights issue worth Rs 1,200 crore, which is part of Suzlon’s ongoing efforts to reduce debt.
Suzlon has developed around 19. 4 gigawatts of installed wind energy capacity around the world. It was once the fifth-largest wind turbine maker globally. In India, Suzlon developed a number of large and small wind farms, including the 1,064-megawatt Jaisalmer Wind Farm in Rajasthan.
Prime Minister Narendra Modi said in a tweet, “Tanti was a pioneering business leader who contributed to India’s economic progress and strengthened our nation’s efforts to further sustainable development. ” The Union ministry of new & renewable energy also mourned Tanti, referring to him as a visionary.
Several other prominent figures and institutions also mourned Tanti, who has played a large role in placing Indian manufacturing on the world map over the past two decades. During this period, Suzlon acquired established and up-and-coming renewable energy players globally, and took on projects across countries.
Despite Suzlon’s rapid progress in the 2000s, it faced difficulties following the 2008 global financial crisis, due to which a large number of players across the world cut back on capital-intensive wind projects.
The company was also on the hook on account of its high levels of debt due to a unique funding model for its wind energy clients, and has undergone multiple rounds of restructuring over the past decade.
Tanti is survived by his wife Gita and children Pranav and Nidhi. He died in Pune shortly after returning from Ahmedabad. He had gone to Gujarat for a series of meetings for the company’s upcoming rights issue worth Rs 1,200 crore, which is part of Suzlon’s ongoing efforts to reduce debt.
Suzlon has developed around 19. 4 gigawatts of installed wind energy capacity around the world. It was once the fifth-largest wind turbine maker globally. In India, Suzlon developed a number of large and small wind farms, including the 1,064-megawatt Jaisalmer Wind Farm in Rajasthan.
Prime Minister Narendra Modi said in a tweet, “Tanti was a pioneering business leader who contributed to India’s economic progress and strengthened our nation’s efforts to further sustainable development. ” The Union ministry of new & renewable energy also mourned Tanti, referring to him as a visionary.
Several other prominent figures and institutions also mourned Tanti, who has played a large role in placing Indian manufacturing on the world map over the past two decades. During this period, Suzlon acquired established and up-and-coming renewable energy players globally, and took on projects across countries.
Despite Suzlon’s rapid progress in the 2000s, it faced difficulties following the 2008 global financial crisis, due to which a large number of players across the world cut back on capital-intensive wind projects.
The company was also on the hook on account of its high levels of debt due to a unique funding model for its wind energy clients, and has undergone multiple rounds of restructuring over the past decade.
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