Tulsi Tanti, the founder chairman and managing director of Suzlon Energy and a renowned expert on renewable energy, died due to cardiac arrest on Saturday evening.
Tanti, 64, who was also the chairman of the Indian Wind Turbine Manufacturers Association, was on his way to Pune from Ahmedabad when he suffered a cardiac arrest, a company official said.
He is survived by his daughter Nidhi and son Pranav.
In a regulatory filing, the company said, "With profound sadness, we inform you of the untimely demise of Tulsi R.Tanti, the founder, chairman & managing director, and one of the promoters of Suzlon Energy Limited... on 1st October 2022.
"Tanti suffered a cardiac arrest and passed away the same day."
In this difficult time, the company continues to be supported by its highly experienced board of directors and senior management who are both able and committed to take Tanti's legacy forward and realise his vision for the firm, it added.
Suzlon Energy is in the process of raising Rs 1,200 crore through a rights issue.
The official said Tanti was on his way home in Pune after holding a series of meetings in Ahmedabad regarding the rights issue.
Tanti was widely known as the visionary who pioneered the renewables revolution in India.
He spearheaded the wind energy revolution in India with the founding of Suzlon Energy in 1995.
He envisioned the opportunity in the Indian renewable energy industry at a time when the global wind energy market was dominated by international players and characterised by expensive and complicated technologies that were largely unviable for traditional businesses.
Instituting a new business model, he conceptualised an end-to-end solution to create realistic avenues for businesses to 'Go Green' and thus emerged as a strategic partner in developing sustainable businesses.
Under Tanti's leadership, Suzlon emerged as a prominent player in the global renewable energy market.
His vision led to Suzlon setting up R&D centres in Germany, the Netherlands, Denmark and India that employ over 200 engineers.