Tulsi Tanti, founder and chairman of wind turbine maker Suzlon Power Ltd., died of cardiac arrest on Saturday. He was 64. Tanti was on his approach residence in Pune after concluding a collection of conferences in Ahmedabad about Suzlon’s ongoing 12 billion rupees ($147.5 million) rights concern, the corporate stated in a separate assertion.
Prime Minister Narendra Modi stated he was “pained” by the businessman’s ”premature demise”. “Shri Tulsi Tanti was a pioneering enterprise chief who contributed to India’s financial progress and strengthened our nation’s efforts to additional sustainable growth,” Modi tweeted.
Who was Tulsi Tanti?
>Tusli Tanti was born in Gujarat and studied commerce and mechanical engineering.
>Tanti began a textiles enterprise and invested in two wind generators in 1990 due to insufficient energy provide in his space, in keeping with a profile notice by the UNEP, which named him one in every of its “Champions of the Earth” in 2009.
>He was additionally named a “Hero of the Surroundings” in 2007 by Time journal.
>Tanti was additionally the chairman of the Indian Wind Turbine Producers Affiliation.
>Tanti arrange Suzlon in 1995 and spearheaded progress within the Indian wind power sector by championing reasonably priced and sustainable power insurance policies.
>The Pune-based firm has a market capitalisation of $1.1 billion with an put in capability of greater than 19.4 GW in 17 nations.
>“India additionally holds a central place on the worldwide power transition roadmap attributable to its huge renewable power potential, inherent manufacturing capabilities, and ever-expanding home client base,” Tanti stated in Suzlon’s newest annual report.
>Tanti additionally backed the federal government’s push for offshore wind power and stated the nation has the potential to construct 100 GW of such initiatives by 2050.
>India’s put in renewable power capability stood at 161 GW in June, and the contribution of wind power was over 25 per cent of the capability, Tanti stated within the report.
>At one level in 2012, Suzlon was India’s greatest convertible-note defaulter after coverage hurdles crimped demand for the corporate’s wind generators.
>The corporate reported a internet revenue within the April-June quarter after a loss in the identical interval final yr. Shares have jumped about 28 per cent over the previous yr.
(With inputs from Bloomberg)