Suzlon Green Power Commits USD5 Billion To Renewable Energy In China And India

September 30, 2008

Suzlon Green Power, an enterprise wholly owned by India's Tanti family, announced at the 2008 Clinton Global Initiative that it will bring 3,500 megawatts of electricity to nearly 10 million people.

Suzlon pledged USD5 billion in green energy assets over five years, primarily in India and China. Of the USD5 billion total project value, Suzlon Green Power will provide approximately USD1.5 billion in equity.

"The urgent global need for clean energy compelled me to dramatically expand my family's business holdings," said Tulsi R. Tanti, who is best known as the founder of the wind-turbine company, Suzlon Energy, based in India. "Our flagship business Suzlon Energy continues to focus on developing wind power solutions, offering wind turbines to the global market. On the other hand, we now commit to developing and owning green power assets through Suzlon Green Power, which will bring energy where it is needed most."

Tanti's efforts are global, with a majority of Suzlon Green Power's projects to be located in India and China, two areas with burgeoning energy needs. The company estimates that its projects will create 1,000 jobs directly and many times more indirectly, and will reduce emissions by the equivalent of seven million tons of CO2 a year.

The International Energy Agency estimates that the world's energy needs will increase by more than 50 percent by 2030, and both China and India's energy use is set to double between 2005 and 2030. Suzlon, with other global organizations, is exploring the most efficient renewable energy sources that can be scaled-up to meet this exponentially growing demand for energy.