Suzlon Energy Limited (NSE:SUZLONEQ, BSE:532667) is an Indian multinational wind turbine manufacturer based in Pune, India. It was formerly ranked by MAKE as the world's fifth largest wind turbine supplier. History In 1995, founder Tulsi Tanti was managing a 20-employee textile company. Due to the erratic availability of power locally, and its rising costs, the highest business expenditure after the raw materials was electricity. The cost of electricity also offset any profits made by the company. 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. 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. 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. Also in 2003 Suzlon set up an office in Beijing. Suzlon Rotor Corporation in 2006 began producing the blades in Pipestone, Minnesota in the United States. Among its clients is Wind Capital Group. In the year 2006, Suzlon reached a definitive agreement for acquisition of Belgian firm Hansen Transmissions, specializing in gearboxes for wind turbines, for $565 million. In 2007, the company purchased a controlling stake in Germany's Senvion (then operating as REpower Systems) which valued the firm at US$1.6 billion. In June 2007, Suzlon had signed a contract with Edison Mission Energy (EME) of US for delivery of 150 wind turbines of 2.1 megawatts in 2008 and a similar volume to be delivered in 2009. EME had an option not to purchase the 150 turbines due to be delivered in 2009, which it has chosen to exercise. In November 2009, the company decided to sell 35% stake of Hansen for $370 million as part of its debt restructuring program, through placing new shares. It appointed Bank of America Merrill Lynch and Morgan Stanley as the managers and book runners for the same. In January 2011, Suzlon received an order worth US$1.28 billion for building 1000 megawatts of wind energy projects from the