ImportMaster: robot: import pages using Special:Import

2022-05-10T12:15:50Z

robot: import pages using Special:Import

New page

{{short description|Indian wind turbine company}}
{{EngvarB|date=January 2014}}
{{Use dmy dates|date=January 2014}}
{{Infobox company
| name = Suzlon Energy Ltd.
| logo = Suzlon Energy logo.svg
| logo_size =
| logo_padding =
| logo_alt =
| logo_caption =
| image =
| image_size =
| image_alt =
| image_caption =
| type = [[Public Company|Public]]
| traded_as = {{unbulleted list|{{BSE|532667}}|{{NSE|SUZLON}}}}
| ISIN = INE040H01021
| industry = [[Renewable energy]]
| founded = {{Start date and age|1995|}}
| founder = [[Tulsi Tanti]]
| hq_location = One Earth, Hadapsar
| hq_location_city = [[Pune]], [[Maharashtra]]
| hq_location_country = India
| num_locations =
| num_locations_year = 
| area_served = Worldwide
| key_people = {{unbulleted list| Tulsi Tanti (CMD)|Ashwani Kumar (CEO, Suzlon Group)}}
| products = Wind turbines
| brands =
| production =
| production_year = 
| services =
| revenue = {{up}} {{INRConvert|4187.33|c}} (2021)
| operating_income = {{up}} {{INRConvert|1101.23|c}} (2021)
| net_income = {{up}} {{INRConvert|104.18|c}} (2021)
| assets = {{up}} {{INRConvert|6601.09|c}} (2021)
| equity = {{up}} {{INRConvert|-3400.71|c}} (2021)
| owner = Tanti Family
| members =
| members_year = 
| num_employees =
| num_employees_year = 
| parent =
| divisions =
| subsid =
| module = 
| website = {{URL|http://www.suzlon.com}}
| footnotes =
}}

'''Suzlon Energy Limited''' (NSE:SUZLONEQ, BSE:532667) is an [[India|Indian multinational]] wind turbine manufacturer based in [[Pune]], India. It was formerly ranked by MAKE as the world's fifth largest wind turbine supplier.<ref name="make-report">Source: MAKE Report: Global Wind Turbine OEM 2013 Market Share.</ref>

== History ==
In 1995, founder [[Tulsi Tanti]] was managing a 20-employee textile company. Due to the erratic availability of power locally, and its rising costs, the highest business expenditure after the raw materials was electricity.<ref name="powerhouses">{{cite book |title=[[India's Global Powerhouses]] |last=Kumar |first=Nirmalya |author-link=Nirmalya Kumar |year=2009 |publisher=[[Harvard Business Press]] |isbn=978-1-4221-4762-7 |pages=136–8}}</ref> The cost of electricity also offset any profits made by the company.<ref>[http://www.time.com/time/specials/2007/article/0,28804,1663317_1663322,00.html Heroes of the Environment] {{webarchive |url=https://web.archive.org/web/20130825150950/http://www.time.com/time/specials/2007/article/0,28804,1663317_1663322,00.html |date=25 August 2013 }}, Time, 17 October 2007, accessed on 26 December 2009.</ref> After providing electricity for his own company, Tanti moved into wind energy production as a way to secure the textile company's energy needs, and founded Suzlon Energy.<ref>{{cite web|title = India's 40 Richest| work=Forbes.com|archive-url=https://web.archive.org/web/20120727215554/http://www.forbes.com/global/2006/1127/039.html|archive-date=27 July 2012|url=https://www.forbes.com/global/2006/1127/039.html |access-date=14 February 2015|date=17 November 2006}}</ref> Suzlon adopted a business model wherein clients would be responsible for 25% of the up-front capital investment and Suzlon would arrange the remaining 75% on loan. Initially, banks were hesitant to fund loans for this model, but by 2008, many Indian banks started financing wind power projects for Suzlon clients.<ref name="powerhouses"/>

In 2001, Tanti sold off the textile business; Suzlon is still actively run by Tulsi Tanti, now in the role of Chairman, Suzlon Group.
In 2003, Suzlon got its first order in USA from DanMar & Associates to supply 24 turbines in southwestern [[Minnesota]].<ref>{{cite news |url=https://www.forbes.com/forbes/2006/0619/124.html |title=Wind Man |work=Forbes.com |date=27 October 2006 |access-date=22 November 2011 |first=Naazneen |last=Karmali |archive-url=https://web.archive.org/web/20120114181600/http://www.forbes.com/forbes/2006/0619/124.html |archive-date=14 January 2012 |url-status=live |df=dmy-all }}</ref> Also in 2003 Suzlon set up an office in Beijing.<ref name="powerhouses"/>

Suzlon Rotor Corporation in 2006 began producing the blades in [[Pipestone, Minnesota]] in the United States. Among its clients is [[Wind capital group|Wind Capital Group]].<ref>[http://www.renewableenergyworld.com/rea/partner/story?id=46688 Renewable energy world] {{dead link|date=June 2016|bot=medic}}{{cbignore|bot=medic}}</ref>

In the year 2006, Suzlon reached a definitive agreement for acquisition of Belgium firm Hansen Transmissions, specializing in gearboxes for wind turbines, for $565 million. In 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.

In June 2007, Suzlon had 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.

In November 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.<ref>{{cite web |url=http://www.sharemanthan.in/index.php/component/content/article/61-corporate-update/4482-suzlon-to-sell-35-per-cent-of-hansen |title=सुजलॉन बेचेगी हैनसेन का 35% हिस्सा |publisher=Sharemanthan.in |access-date=22 November 2011 |url-status=dead |archive-url=https://archive.today/20120917140940/http://www.sharemanthan.in/index.php/component/content/article/61-corporate-update/4482-suzlon-to-sell-35-per-cent-of-hansen |archive-date=17 September 2012 |df=dmy-all }}</ref><ref>{{cite web |url=http://www.livemint.com/2010/02/01224856/Suzlon-awaiting-large-orders.html |title=Suzlon: awaiting large orders - Money Matters |publisher=livemint.com |date=2 February 2010 |access-date=22 November 2011 |archive-url=https://web.archive.org/web/20100410081226/http://www.livemint.com/2010/02/01224856/Suzlon-awaiting-large-orders.html |archive-date=10 April 2010 |url-status=live |df=dmy-all }}</ref><ref>{{cite web |author=Business Standard |url=http://www.business-standard.com/india/news/suzlon-some-breeze-finally/10/02/378264/ |title=Suzlon: Some breeze, finally |publisher=Business-standard.com |access-date=22 November 2011 |archive-url=https://web.archive.org/web/20121012062741/http://www.business-standard.com/india/news/suzlon-some-breeze-finally/10/02/378264/ |archive-date=12 October 2012 |url-status=live |df=dmy-all }}</ref>

In January 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.<ref>{{cite news |last=Yep |first=Eric |url=https://www.wsj.com/articles/SB10001424052748703956604576109362906432814 |title=Suzlon Energy Bags $1.28 Billion Order - WSJ.com |publisher=Online.wsj.com |date=28 January 2011 |access-date=22 November 2011 |archive-url=https://web.archive.org/web/20150627041029/http://www.wsj.com/articles/SB10001424052748703956604576109362906432814 |archive-date=27 June 2015 |url-status=live |df=dmy-all }}</ref>

In May 2011, Suzlon announced returning to profitability after the financial crisis of 2009
<ref>[http://www.suzlon.com/images/Media_Center_news/198_Press%20Release.pdf Suzlon Press Release of 14 May 2011] {{webarchive |url=https://web.archive.org/web/20121223044528/http://www.suzlon.com/images/Media_Center_news/198_Press%20Release.pdf |date=23 December 2012 }}</ref>

In October 2011, Suzlon sold its remaining 26.06% stake in Hansen Transmissions International NV to ZF Friedrichshafen AG for {{INRConvert|8.9|b}}.
<ref>{{cite news |url=http://mobile.bloomberg.com/news/2011-10-07/suzlon-energy-to-receive-178-million-for-hansen-stake-next-week |title=Suzlon Energy to Receive $178 Million for Hansen Stake Next Week- Bloomberg |publisher=Mobile.bloomberg.com |date=7 October 2011 |access-date=22 November 2011 |archive-url=https://web.archive.org/web/20120514184707/http://mobile.bloomberg.com/news/2011-10-07/suzlon-energy-to-receive-178-million-for-hansen-stake-next-week |archive-date=14 May 2012 |url-status=live |df=dmy-all }}</ref>
In the same month, it also achieved full control of its German subsidiary REpower Systems (now [[Senvion]]) by acquiring the remaining 5% stake held by minority shareholders that resisted the takeover. The takeover was completed through the squeeze-out procedure by paying EUR 63 Million.
<ref>{{cite news |last=Yep |first=Eric |url=https://www.wsj.com/articles/SB10001424052970203554104577003263853518948 |title=Suzlon: Completed 'Squeeze-Out' Process of REpower Minority Shareholders - WSJ.com |publisher=Online.wsj.com |date=28 October 2011 |access-date=22 November 2011 |archive-url=https://web.archive.org/web/20150627200245/http://www.wsj.com/articles/SB10001424052970203554104577003263853518948 |archive-date=27 June 2015 |url-status=live |df=dmy-all }}</ref>

It has to redeem 500 million worth of FCCB's (foreign currency convertible bonds) in 2012 in tranches of 300 million in June and 200 million in October respectively.
In line with the previously announced strategy to dispose of non-critical group assets to reduce long-term debt, Suzlon Chairman said that Suzlon Energy, will sell stake in its China manufacturing unit to [[China Power New Energy Development Company Limited]] for 3.4 billion rupees ($60 million).<ref>{{cite news|title=Suzlon Group to Sell China Unit for RS 340 Crore |url=http://economictimes.indiatimes.com/news/news-by-industry/energy/power/suzlon-group-to-sell-china-unit-for-rs-340-crore/articleshow/14355625.cms |date=23 June 2012 }}{{dead link|date=June 2016|bot=medic}}{{cbignore|bot=medic}}</ref>

On 30 November 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.<ref>[http://www.thehindubusinessline.com/companies/suzlon-to-supply-52-turbines-to-australian-wind-farm/article5408818.ece Suzlon to Supply 52 Turbines to Australian Wind Farm] {{webarchive |url=https://web.archive.org/web/20160115054722/http://www.thehindubusinessline.com/companies/suzlon-to-supply-52-turbines-to-australian-wind-farm/article5408818.ece |date=15 January 2016 }}</ref>

As of August 2014, Suzlon's debt was over {{INR}} 8000 crores.<ref>{{cite news|title=Aim to repay debt, turn profitable by end of FY15: Suzlon|url=http://www.moneycontrol.com/news/business/aim-to-repay-debt-turn-profitable-by-endfy15-suzlon_1143516.html|access-date=16 February 2015|work=MoneyControl|date=1 August 2014|archive-url=https://web.archive.org/web/20150216112107/http://www.moneycontrol.com/news/business/aim-to-repay-debt-turn-profitable-by-endfy15-suzlon_1143516.html|archive-date=16 February 2015|url-status=live|df=dmy-all}}</ref> On 22 January 2015, Suzlon announced the sale of [[Senvion]] SE, its wholly owned subsidiary, to [[Centerbridge Partners]], a private equity firm in a deal valued at {{INR}} 7200 crores.<ref name=Centerbridge-deal>{{cite news|title=Suzlon to sell German unit to Centerbridge for €1 bn|url=http://www.thehindubusinessline.com/companies/suzlon-sells-senvion-to-us-co-for-rs-7200-cr/article6811105.ece|access-date=16 February 2015|work=Hindu Business Line|date=22 January 2015|archive-url=https://web.archive.org/web/20160115054722/http://www.thehindubusinessline.com/companies/suzlon-sells-senvion-to-us-co-for-rs-7200-cr/article6811105.ece|archive-date=15 January 2016|url-status=live|df=dmy-all}}</ref> The deal is expected to ease Suzlon's debt burden.<ref name=Centerbridge-deal/> In a further equity infusion, Dilip Shanghvi Family and Associates (DSA), run by [[Dilip Shanghvi]], the founder and managing directory of [[Sun Pharmaceuticals|Sun Pharmaceutical]], agreed to purchase a 23 percent stake in Suzlon for a sum of {{INR}}1800 crores.<ref name=shanghvi-buy>{{cite news|title=Dilip Shanghvi takes 23 per cent stake in debt-laden Suzlon|url=http://businesstoday.intoday.in/story/dilip-shanghvi-takes-23-per-cent-stake-in-debt-laden-suzlon/1/215732.html|access-date=16 February 2015|work=Business Today|date=14 February 2015|archive-url=https://web.archive.org/web/20150216042919/http://businesstoday.intoday.in/story/dilip-shanghvi-takes-23-per-cent-stake-in-debt-laden-suzlon/1/215732.html|archive-date=16 February 2015}}</ref> The deal will see Tanti's holding shrink to 24 percent, but management control will still remain with the Tanti family.<ref name=shanghvi-buy/> Its total borrowings stood at {{INR}}11430.76 crore in FY16 from {{INR}}17810.96 crore FY15.<ref>{{Cite news|url=http://www.indiainfoline.com/article/news-top-story/suzlon-suzlon-to-exit-debt-restructuring-by-end-of-fy17-117010900179_1.html|title=Suzlon {{!}} Suzlon to exit debt restructuring by end of FY17|last=indiainfoline.com|access-date=2017-01-17|archive-url=https://web.archive.org/web/20170114203448/http://www.indiainfoline.com/article/news-top-story/suzlon-suzlon-to-exit-debt-restructuring-by-end-of-fy17-117010900179_1.html|archive-date=14 January 2017|url-status=live|df=dmy-all}}</ref>

On 17 January 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.<ref>{{Cite news|url=http://www.business-standard.com/article/news-cm/suzlon-energy-gains-after-achieving-10-000-mw-installed-wind-energy-milestone-117011700246_1.html|title=Suzlon Energy gains after achieving 10,000 MW installed wind energy milestone|last=Market|first=Capital|date=2017-01-17|newspaper=Business Standard India|access-date=2017-01-17|archive-url=https://web.archive.org/web/20170118052456/http://www.business-standard.com/article/news-cm/suzlon-energy-gains-after-achieving-10-000-mw-installed-wind-energy-milestone-117011700246_1.html|archive-date=18 January 2017|url-status=live|df=dmy-all}}</ref>

As on date, the company has fifteen manufacturing facilities and a workforce of over 8,000 employees globally.<ref>[http://www.suzlon.com/about_suzlon/l2.aspx?l1=1&l2=1 Company Profile: Suzlon] {{webarchive|url=https://web.archive.org/web/20160506112955/http://www.suzlon.com/about_suzlon/l2.aspx?l1=1&l2=1|date=6 May 2016}}</ref>

The stock price is the company in the Indian stock exchanges gave but however recovered from the fall in 2009-2010<ref>[https://www.equitymaster.com/detail.asp?date=11/27/2021&story=2&title=6-Popular-Stocks-that-Turned-into-Penny-Stocks&]{{cite news|url=https://www.equitymaster.com/detail.asp?date=11/27/2021&story=2&title=6-Popular-Stocks-that-Turned-into-Penny-Stocks|date=29 Nov 2021}}</ref>

== Wind parks ==
Globally, Suzlon has installed over 17,000 MW of wind power capacity in 18 countries.<ref name=Company-profile-1>{{cite web|url=http://www.suzlon.com/about_suzlon/l2.aspx?l1=1&l2=1|access-date=15 February 2015|title=Company Profile|archive-url=https://web.archive.org/web/20160506112955/http://www.suzlon.com/about_suzlon/l2.aspx?l1=1&l2=1|archive-date=6 May 2016|url-status=live|df=dmy-all}}</ref>

=== India ===
Suzlon crossed 11,000 megawatts of cumulative installations in India.<ref>{{Cite news|url=http://www.business-standard.com/article/news-cm/suzlon-energy-achieves-10-000-mw-installed-wind-energy-milestone-117011600722_1.html|title=Suzlon Energy achieves 10,000 MW installed wind energy milestone|last=Market|first=Capital|date=2017-01-16|newspaper=Business Standard India|access-date=2017-01-17|archive-url=https://web.archive.org/web/20170118052147/http://www.business-standard.com/article/news-cm/suzlon-energy-achieves-10-000-mw-installed-wind-energy-milestone-117011600722_1.html|archive-date=18 January 2017|url-status=live|df=dmy-all}}</ref>
Suzlon has cumulatively added over 11000 megawatts of wind power capacity for over 1,700 customers in India across 40 sites in eight States.
Suzlon accounts for nearly one-third of the country's total wind installations.<ref>{{cite web |url=http://www.suzlon.com/images/Media_Center_News/192_Suzlon%2015%20GW%20announcement.pdf |title=Suzlon Group crosses 22000 megawatts in wind power installations across the world |publisher=Suzlon |date=16 December 2010 |access-date=15 September 2012 |archive-url=https://web.archive.org/web/20120926173040/http://www.suzlon.com/images/Media_Center_news/192_Suzlon%2015%20GW%20announcement.pdf |archive-date=26 September 2012 |url-status=live |df=dmy-all }}</ref>

Its notable installations in India include:
* The 1064 MW [[Jaisalmer Wind Park]] in Rajasthan.<ref>{{cite news|title=Suzlon crosses 1 GW capacity at Jaisalmer park|url=http://articles.economictimes.indiatimes.com/2012-05-11/news/31669217_1_wind-turbine-wind-park-wind-energy|access-date=15 February 2015|publisher=Economic Times|date=11 May 2012|archive-url=https://web.archive.org/web/20150215043710/http://articles.economictimes.indiatimes.com/2012-05-11/news/31669217_1_wind-turbine-wind-park-wind-energy|archive-date=15 February 2015}}</ref>
* The 1100 MW wind park in the [[Kutch district]], [[Gujarat]],<ref name=Mishra-Hindu-2014>{{cite news|last1=Mishra|first1=Lalatendu|title=Suzlon sets up world's tallest hybrid wind turbine in Kutch|url=http://www.thehindu.com/business/Industry/suzlon-sets-up-worlds-tallest-hybrid-wind-turbine-in-kutch/article6571384.ece|access-date=15 February 2015|work=The Hindu|date=6 November 2014|archive-url=https://web.archive.org/web/20141107164946/http://www.thehindu.com/business/Industry/suzlon-sets-up-worlds-tallest-hybrid-wind-turbine-in-kutch/article6571384.ece|archive-date=7 November 2014|location=Chennai, India}}</ref> with plans to expand it to 2000 MW in the next four to six years.<ref name="TIE-2014">{{cite news|title=Suzlon to complete Kutch wind farm in next four years, says CMD Tanti|url=http://indianexpress.com/article/india/gujarat/suzlon-to-complete-kutch-wind-farm-in-next-four-years-says-cmd-tanti/|access-date=15 February 2015|work=The Indian Express|date=6 November 2014|archive-url=https://web.archive.org/web/20141201225239/http://indianexpress.com/article/india/gujarat/suzlon-to-complete-kutch-wind-farm-in-next-four-years-says-cmd-tanti/|archive-date=1 December 2014}}</ref> As of February 2015, this is the largest wind park in Asia at a single location.<ref name=Mishra-Hindu-2014/>
*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]]).<ref>{{cite news|title=Suzlon Energy faces serious debt crisis|url=http://asian-power.com/environment/news/suzlon-energy-faces-serious-debt-crisis|access-date=15 February 2015|archive-url=https://web.archive.org/web/20150215044132/http://asian-power.com/environment/news/suzlon-energy-faces-serious-debt-crisis|archive-date=15 February 2015|url-status=live|df=dmy-all}}</ref>
* The 210 MW Vankusawade Wind Park near the [[Koyna Wildlife Sanctuary|Koyna]] reservoir in the [[Satara district]] of [[Maharashtra]].<ref>{{cite web|title=Among the clouds|url=http://www.powertoday.in/News.aspx?nId=OqlYYE0cesCp9XfI6VCtIw==&NewsType=Among-the-clouds-India-Sector|website=Power Today|publisher=Power Today|access-date=15 February 2015}}</ref>

In 2012, Suzlon signed an [[Expression of Interest]] with the government of Karnataka to develop 2500 MW of wind power in the state between 2012 and 2017.<ref>{{cite news|url=http://articles.economictimes.indiatimes.com/2012-06-07/news/32101295_1_wind-power-capacity-wind-turbine-manufacturer-wind-farms|access-date=15 February 2015|work=Economic Times|date=7 Jun 2012|archive-url=https://web.archive.org/web/20150215051910/http://articles.economictimes.indiatimes.com/2012-06-07/news/32101295_1_wind-power-capacity-wind-turbine-manufacturer-wind-farms|archive-date=15 February 2015|title=Suzlon signs EoI to develop 2,500 mw of wind power capacity}}</ref>

=== Gallery ===
<gallery>
File:Suzlon_WTG.jpg | Suzlon WTG S88
File:Wind_turbines_in_southern_Colorado.jpg | Suzlon WTGs in Southern Colorado
File:A_Wind_Energy_farm_and_the_Cenotaphs,_the_ancient_and_the_modern,_Jaisalmer_Rajasthan_India.jpg | Suzlon's wind energy farm at Jaisalmer, India
File:Big-pump-king.jpg | Suzlon WTGs behind a vintage gas pump at the Bluegrass Ridge Wind Farm in King City, Missouri
File:US-WY - Bridger - Road Trip - Energy - The West - Rocky Mountains - Wind Farm (4892002967).jpg | Suzlon's WTGs at Mountain Wind Power Park in Uinta County, Wyoming
File:Wind_Power_4892597382.jpg | Suzlon's WTGs at Mountain Wind Power Park in Uinta County, Wyoming
</gallery>

== See also ==
* [[List of wind turbine manufacturers]]
* [[Wind power in India]]

== References ==
{{Reflist|30em}}

== External links ==
{{Commons category}}
* {{Official website}}

{{Coord|18.51186|N|73.935655|E|type:adm1st_scale:3000000_region:IN-MH|display=title|name=Bombay Stock Exchange}}

{{Wind power}}

[[Category:Suzlon| ]]
[[Category:Electrical engineering companies of India]]
[[Category:Companies based in Pune]]
[[Category:Wind turbine manufacturers]]
[[Category:Engineering companies of India]]
[[Category:Indian companies established in 1995]]
[[Category:Multinational companies headquartered in India]]
[[Category:Indian brands]]
[[Category:1995 establishments in Maharashtra]]
[[Category:Manufacturing companies established in 1995]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

Suzlon - Revision history

ImportMaster: robot: import pages using Special:Import