The wayward wind

The everlasting misery of Suzlon

The story of a company that has been a turnaround in the making for the last decade. Except, it is far from redemption

04/06/18

Sidhartha Shukla

Suzlon was once the fifth-largest wind energy firm in the world

Due to various reasons, the firm defaulted on its borrowings and fell into a debt trap

As Suzlon was about to turn the tables, wind energy tariffs fell to an all-time low

Will Suzlon eventually be a turnaround story?

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Wind turbine supplier Suzlon’s initial public offering (IPO) in 2005 was nothing short of stellar. Almost overnight, its founder and chairman, Tulsi Tanti, became one of the richest people in India. At the time, the company was the fifth largest wind energy firm in the world. Two years later, it would establish itself as a…

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