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|Tulsi R. Tanti|
Tulsi Tanti at the World Economic Forum
|Occupation||Founder, Chairman and Managing Director of Suzlon Energy|
|Net worth||US$400 million |
|Suzlon Energy Ltd|
Tanti is from Rajkot, Gujarat. A commerce graduate[where?] and a diploma holder in mechanical engineering[where?], he started his first venture in textiles in Surat called Sulzer Synthetics P. Ltd., and later changed its name first to Suzlon Synthetics Ltd., and later to Suzlon Fibres Ltd. He found the prospects limited due to infrastructural bottlenecks, including the cost and unavailability of power, which formed a high proportion of the operating expense of the textile industry. He then moved into wind power production and founded Suzlon Energy.
In 1990, Tanti invested in two Vestas wind turbines. In 1995, he formed Suzlon and gradually quit textiles. Suzlon Energy is the fifth largest wind turbine manufacturer in the world (combined with REpower) and the largest in Gujarat. It is building what will be among India's largest wind parks of its kind at 10 MW capacity. He was worth $930 according to Forbes in November 2008. His fortune had reached $5.6 million, however an 85% drop in the share price of Suzlon Energy, precipitated by the global recession and quality issues with Suzlon wind turbines, caused his net worth to drop to $3 by March 2009.
In 2006, Suzlon acquired Hansen Transmissions, a Belgian maker of wind-turbine gearboxes, which it subsequently sold to ZF Friedrichshafen in 2011. Suzlon is also building a rotor-blade factory in Minnesota, and has invested $60 million in a factory in Tianjin, China, later selling it for $1.5 million to China Power.
- "10 Richest men in India"
- "Forbes List"
- "Forbes Business", November 12, 2008
- "Forbes List", November 19, 2009