Suzlon unveils 3,500 MW wind power plans

27 September 2008

Suzlon Energy's majority shareholder Suzlon Green Power Ltd, which is privately-owned by the family of Suzlon Energy chairman Tulsi Thanti, has announced a commitment to bring 3,500 megawatts of electricity with the development of $5 billion in green energy assets.

These energy assets will be set up over five years, primarily in India and China and, the company says, will bring electricity to nearly 10 million people.

Suzlon Green Power says it will provide approximately $1.5 billion in equity to the $5-billion project.

The company made the announcement at the 2008 annual meeting of the Clinton Global Initiative in New York City, yesterday, making it the largest single energy commitment at the foundation started by former US President Bill Clinton.

"The urgent global need for clean energy compelled me to dramatically expand my family's business holdings," said Tulsi R. Tanti, the founder of the Indian wind-turbine company, Suzlon Energy Ltd, which in 2007 ranked as the fifth leading wind turbine supplier in the world, with over 10.5-per cent global market share.

Earlier this month it purchased a 22-percent stake in REpower Systems for $396 million, adding to its existing 66 per cent stake in the German wind-turbine maker (See:Suzlon buys out Martifer; raises REpower stake to 90 per cent).