NEW DELHI: Founder and the chairman & managing director of Suzlon Energy Ltd Tulsi R Tanti passed away on Saturday after he suffered a cardiac arrest on the same day. Tulsi Tanti was 64, and is survived by his wife Gita, son Pranav, and daughter Nidhi. Suzlon Energy in an exchange filing confirmed the news.
Tanti is known for his pioneering work in the field of wind and renewable energy in India. He is credited with spearheading the wind energy revolution in India with the founding of Suzlon Energy. A mechanical engineer by qualification, Tanti left his family textile business to start Suzlon Energy in 1995.
Since its inception, Suzlon has installed over 19.4 GW of wind energy in 17 countries across six continents. The company has over 1,800 customers and around 5,500 employees working globally. Once hailed as the ‘Hero of the Environment’ by TIME magazine, Tanti even made it to the Forbes richest 40
list in 2005.
However, the company could not cope with the changing business environment and a couple of wrong business decisions – including the acquisition of German company REPower for $1.3 billion. Despite many attempts including an investment of Rs 1,800 crore from Dilip Shanghvi Family and Associates (DSA), Tanti could not revive the fortune of the company.