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Tulsi TantiIndian entrepreneur
Country:
 India |
Content:
Biography of Tulsi Tanti
Tulsi Tanti, an Indian entrepreneur, is the chairman and managing director of 'Suzlon Energy', a leading specialist in wind turbine manufacturing. He and two other relatives own 94.33% of the company. Tanti's net worth is estimated to be around $400 million.
Early Life and Career
Tulsi Tanti was born in Rajkot, Gujarat, India. He received his education in commerce and mechanical engineering, and later opened his first business in the textile industry in Surat. Initially, his company was called 'Sulzer Synthetics P. Ltd', but it later changed to 'Fibres Ltd'. Tanti quickly realized that there were limited prospects in the textile industry due to infrastructure issues, including the energy deficit in India and the high cost of energy. This led him to explore the field of wind energy and eventually establish 'Suzlon Energy'.
Success with Suzlon Energy
In 1990, Tanti invested in two wind turbines from 'Vestas'. By 1995, he completely shifted his focus from the textile industry and began expanding 'Suzlon'. His new venture became the fifth-largest wind turbine manufacturer in the world and the largest in Gujarat. 'Suzlon Energy' also constructed one of the largest wind farms in India with a capacity of 10 MW.
On September 23, 2005, after the initial public offering (IPO) on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE), demand for Suzlon Energy's shares exceeded supply by 46 times. The company raised approximately $337 million through the IPO.
In 2006, Suzlon acquired 'Hansen Transmissions', a Belgian manufacturer of gearboxes for wind turbines. However, in 2011, 'Hansen Transmissions' was sold to the automotive supplier 'ZF Friedrichshafen'. Tanti aimed to expand Suzlon Energy globally and increase its contribution to the wind energy sector, taking advantage of the predicted 27% growth in wind power capacity by 2009.
Challenges and Expansion
Despite Tanti's ambitions, 'Suzlon' faced challenges, including an 85% decline in its stock prices due to the global economic downturn and turbine quality issues. However, Tanti remained focused on reducing costs and improving technology to increase the company's capacity.
Suzlon Energy was also engaged in constructing a turbine blade factory in Minnesota, USA, and invested $60 million in a plant in Tianjin, China. The latter was later sold to 'China Power'.
Tulsi Tanti is described as a determined individual with a strong desire to make Suzlon Energy one of the top three wind energy companies in the world. He has two children.
