Tulsi Tanti saw an opportunity in the Indian renewable energy sector at a time when international companies dominated the worldwide wind energy market and was characterised by expensive and complex technologies that were mainly unviable for traditional enterprises.
Founder chairman and managing director of Suzlon Energy and renowned expert on renewable energy Tulsi Tanti passed away following a cardiac arrest on the evening of October 1. Tanti, 64, who was also the chairman of the Indian Wind Turbine Manufacturers Association, was on his way 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 son Pranav.
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“With profound sadness, we inform you of the untimely demise of Shri Tulsi R. Tanti, the Founder, the Chairman & Managing Director, and one of the promoters of Suzlon Energy Limited (the “Company") on 1st October 2022. Shri Tanti suffered a cardiac arrest and passed away the same day," the company said in a regulatory filing.
Tanti, who was born in Rajkot in 1958, was a former textile trader. He graduated from Gujarat University with a Bachelor's in Commerce degree. Tanti served as the president of the Indian Wind Turbine Manufacturers Association as well as the chairman of the Belgian turbine component manufacturer ZF Wind Power Antwerpen since May 10, 2006.
He conceptualised the end-to-end solution to create realistic avenues for businesses to 'Go Green'. With the establishment of Suzlon Energy in 1995, Tanti was the driving force behind India's wind revolution.
At a time when international companies dominated the worldwide wind energy market and was characterised by expensive and complex technologies that were mainly unviable for traditional enterprises, he saw an opportunity in the Indian renewable energy sector.
He emerged as a strategic partner in developing sustainable businesses. Under Tanti's leadership, Suzlon emerged as a prominent player in the global renewable energy market. His vision led to Suzlon setting up its R&D centres in Germany, the Netherlands, Denmark and India that employ over 200 engineers.
Ashwani Kumar, CEO, Suzlon Energy in a letter addressing the company's employees said, "This is by far the most heart-breaking 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 better as the champion of creating a better world for our future generations. If there was anything that our CMD taught us it was resilience, the will to fight back and the strength to stand up tall in our worst times."
One of India's top manufacturers of wind components, Suzlon Energy announced the launch of its Rs 1,200 crore 'Rights Issue' on October 11, 2022. Under rights issue, fresh equity shares are offered by a company to those who are existing shareholders. The group was looking to repay debt accumulated, fund working capital and deploy the rest for general corporate purposes.
First Published: IST