It’s a journey that Tulsi Tanti would rather forget, but he, who chairs Suzlon that once made one in two wind turbines sold in India, is on the move again.
The founder of what was once the world’s fifth-largest wind turbine maker, Tanti, 58, has seen at least three downturns in the two-decade-old business.
He aims to get the company back in the list of the world’s top five wind turbine makers—a spot it lost when Senvion was cut loose. He is one of those first-time entrepreneurs who saw potential in an inchoate idea, ventured into it, and made it big.
Today, Tulsi Tanti ranks among top 10 richest men of India. He is poised to make India a wind-power export hub.
Image credit: Ramesh Pathania / Mint
The Pune-headquartered Suzlon group has installations of around 15.5 gigawatts (GW) spread across 17 countries, of which India accounts for the lion’s share of about 9.5 GW.
Globally, India is at the fourth spot in terms of wind power installed capacity after China, the US, and Germany.
The Government of India has set an ambitious target of achieving 175 GW capacity from renewable energy resources by 2022 and of this, 60 GW is seen to come from wind power.
Image credit: Suzlon
On India’s renewable energy target, Suzlon’s Tulsi Tanti said that to achieve such a huge target, the industry needs technology up-gradation to counter lower tariffs and at the same time, grow generation capacity at a competitive cost.
Currently, the total wind power installed capacity in India is around 27 GW which is about 9 percent of India’s total installed capacity.
“India’s wind energy sector witnessed unprecedented acceleration last year, propelled by technology and conducive policy environment for renewables, by central and state governments. The growth was way higher than the industry estimates of 30-40 percent, Suzlon Group Chairman Tulsi Tanti said, as reported by The Hindu.
India’s wind power capacity is set to grow 30 percent or 4,300 MW in 2016-17, helped by capacity addition in Andhra Pradesh, Gujarat and Madhya Pradesh, among others, he says.
On the Suzlon group’s profits front, Tanti said: “We will make profits in 2016-17. We made profits last fiscal also. We have reduced our fixed costs. Our break-even is at 14,000 MW currently and 14,000 MW is always in profit. The market is growing at 30 percent and we are growing more than the market growth rate.”
The industry has attracted an investment of over $ 3.16 billion and the cumulative installation of the sector is about 64 percent of India’s total grid-interactive renewable energy capacity.
This is equivalent to reducing carbon emission by over 58.56 million tonnes per annum or planting over 1.76 billion trees, Tanti had noted. (Source: The Hindu)