The Suzlon Energy company’s management says other challenges: it wants to build a future-proof model through innovation and leadership development
Suzlon Energy, a Wind turbine maker, the company’s management told Moneycontrol in an exclusive interview a given thought down by debt and market volatility, is charting a new course in the direction of sustainable growth with a powerful 5-GW (Gigawatt) order book, cost scaling down, innovation, and success planning,
In October 2022, after weathering mounting debt and losses, the company was preparing for a Rs 1,200-crore equity rights issue when it faced another setback. Founder and Chairman Tulsi Tanti, a champion of the wind energy industry, passed away late evening on October 1. The rights issue was a success, and two years later much has changed for the Pune-headquartered company.
JP Chalasani, Chief Executive Officer, of Suzlon Group, said: “Two things cost reduction and being free of debt are making us grow,”
More in-depth Girish Tanti, Co-Founder (CF) and Vice Chairman (VC), added, “We will be independent and self-reliant given the cash flows we have, both from our yearly O&M as well as the turbine business.
This happened once. A decade of positive change in net worth from institutional investors is also seeing the company.
Suzlon Energy has got up 240 per cent in a year, to climb to Rs 85 on Refurbished interest from investors as the company picked up about Rs 1,500 crore in debt during the 2023-24 financial year, the first
Chalasani and Tanti gave a joint interview to Moneycontrol to share plans about the company’s future as it transforms into a comprehensive and sustainable renewable energy (RE) solutions provider, leveraging its debt-free status to focus on India’s booming clean energy market.
