In 1995, Tulsi Tanti, a Gujarati businessman, was managing a 20-employee textile company. Due to the erratic availability of local power and its rising cost, the highest business expenditure after the raw materials was electricity.[2] The cost of electricity also offset any profits made by the company.[3] After providing electricity for his own company, Tanti moved into wind energy production as a way to secure the textile company's energy needs, and founded Suzlon Energy.[4] Suzlon adopted a business model wherein clients would be responsible for 25% of the up-front capital investment and Suzlon would arrange the remaining 75% on loan. Initially, banks were hesitant to fund loans for this model, but by 2008, many Indian banks started financing wind power projects for Suzlon clients.[2]
In 2001, Tanti sold off the textile business; Suzlon was still actively run by Tulsi Tanti, now in the role of Chairman, Suzlon Group. In 2003, Suzlon got its first order in USA from DanMar & Associates to supply 24 turbines in southwestern Minnesota.[5] Also in 2003 Suzlon set up an office in Beijing.[2]
