Tulsi Tanti, chairman of wind energy firm Suzlon Energy, passed away on Saturday evening in Pune due to cardiac arrest. He was 64.
Tanti was on his way home to Pune from Ahmedabad after attending a series of meetings on his company's ongoing 1,200crore rights issue when he felt uneasy and died soon after. He is survived by his wife Geeta, son Pranav and daughter Nidhi.
Tanti had made his fortune by investing in wind energy projects in the mid-90s when renewable energy was not in vogue.
Suzlon acquired Senvion Energy in Germany for euro 1.4 billion in 2007.
But his good run soon ended as customers pointed out serious quality issues with the blades and Suzlon started delaying its debt repayments to banks.
In 2015, Suzlon had to sell Senvion to use the proceeds to repay bank loans and seek a debt-restructuring plan.
This story is from the October 03, 2022 edition of Business Standard.
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This story is from the October 03, 2022 edition of Business Standard.
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