Growth Story Of Suzlon India Essay

3257 words - 13 pages

Suzlon (India) - A Growth Story

Introduction:Suzlon Energy Limited has made a mark for itself in the field of wind energy not only in India but on the global stage. It is the largest wind turbine manufacturer in Asia and fifth largest in the world in terms of annual installed capacity (Source - BTM Consult APS) .From its inception in 1995, it has shown a phenomenal growth rate to achieve its current position in the wind energy sector in India. When it went public in September 2005, its Initial Public Offering (IPO) was a huge success with the issue oversubscribed 49.5 times. The success story has resulted in Tulsi Tanti, the founder of Suzlon, being named the eighth richest Indian in the world.History:Suzlon Energy Limited came into existence in 1995. Tulsi Tanti, its founder first ran a textile mill in Ahmedabad. A large part of the cost of production consisted of the cost of electric power. With rising costs of power, the company decided to install a wind turbine. The wind turbine was imported from Sudwind, Germany and this led to the beginning of Suzlon Energy Limited. The company entered into an agreement with Sudwind, Germany to gain expertise in manufacturing cost efficient and modern wind turbine generators. Due to some financial problems, Sudwind had to wind up its operations. This opportunity was taken up by Tulsi Tanti and he took on Sudwind's manpower along with its expertise to strengthen his company. This was Suzlon's first foray into wind turbine generators and since then it has never looked back.Over the last decade, the company has set up several wind farm projects to utilize the power of wind for production of electricity. Also it has invested in wind infrastructure in foreign countries such as Denmark, China, Australia and USA. This has led to a strong global presence in the wind energy sector for Suzlon. It came out with its IPO in September 2005 which turned out to be a huge success and has propelled the company further on its growth pathPotential of the Wind Energy Sector:The global wind energy industry was worth US$ 11.3 billion at the end of 2004, according to BTM Consult ApS. Technological advances have resulted in larger and better quality Wind energy generators with higher generation efficiencies at lower costs. Heightened environmental awareness has also resulted in increased demand for "green power" in developed countries. Europe, USA, China, Japan and Australia currently account for nearly 80 % of the world's wind power installations. Studies suggest that still there is plenty of potential in the growth of this energy sector due to the freely and plentifully available source of energy, wind and its non-polluting nature. Thus the potential for growth of an organization in the wind energy sector is good.The wind power program in India was initiated in 1983-84. From the program's inception, the Government of India has promoted a market-oriented strategy which has led to commercial development of technology. Since...

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