In order to meet the energy needs of the textile company, Tanti, who had a business in the textile industry in 1995, transitioned into wind energy production and formed Suzlon Energy. He eventually sold the textile company in 2001. DanMar & Associates placed Suzlon’s first order in the USA in 2003 for 24 turbines to be installed in southwest Minnesota. Suzlon Energy’s market cap as of right now is Rs 8,535.90 crore.
Suzlon Energy, a multinational Indian wind turbine manufacturer with head office in Pune, confirmed the news in a press release, saying, ‘In this difficult time, the Company continues to be supported by its highly experienced board of directors and senior management who are both able and committed to carrying forward Shri Tanti’s legacy and realising his vision for the company.’
‘This is for your urgent notice and information, as also for the information of your members and the public at large. As per regulation 31 A of the Listing Regulations, the list of the promoters and the promoter group of the company stands updated with the exclusion of Shri Tanti. The company shall comply with all its reporting requirements formally in this respect in due course,’ the renewable energy company stated.
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