Suzlon celebrates 15 years with Company-wide stock options

Mr. Tulsi R. Tanti, founder, Chairman and Managing Director, said: "April 10, 2010 marked 15 years in the history of our Company, and we are very pleased to take that opportunity to roll out this exciting initiative.

“What makes this ESOP initiative unique and important is its scale and reach. At Suzlon we know our greatest strength is our employees. We have created a highly skilled, diverse and multicultural workforce which has become a part of the Suzlon global family. I have always believed that those instrumental in creating wealth for the business should share in that wealth. This initiative is making that dream a reality.”

"It is hard to believe that 15 years ago we started the Company with just three people. Today, Suzlon Energy Limited and its subsidiaries have almost 11,000 employees and a majority of them will be granted 1,500 share options each – totaling approximately 14 million shares, and about one percent of the capital. We hope and trust that this initiative of ours will not only make our employees true stakeholders and drive greater engagement -but also that this is something which the broader corporate community will now consider adopting too.

"I would like to thank everyone who has worked so hard to build Suzlon up to where we are today – and look forward to celebrating our next milestones with the entire Suzlon family."

This special ESOP scheme is far reaching – with a focus on inclusivity. The scheme is open to all permanent employees of SEL and its subsidiaries (excluding REpower and Hansen) who have completed six months with the Company, and have not been granted ESOP under any other scheme. In effect, the scheme reaches over 9,400 employees in 21 countries across five continents.

Eligibility – The scheme applies to all permanent employees of SEL and its subsidiaries (excluding REpower and Hansen) having completed six months of service as on 31st March 2010 and who have not been granted ESOP under any other scheme.

Suzlon and REpower, ranked as the world’s third leading wind turbines supplier in terms of market share in 2009. Suzlon has its corporate offices in Pune, India and company’s global spread reflects in its wind power projects and markets portfolio – extending across Asia, Australia, Europe and North and South America.

Suzlon is a highly vertically integrated wind energy manufacturer with manufacturing capability along the full value chain – from components to complete wind turbine systems. 

Suzlon and REpower, if taken together, stand as the world’s third leading wind power supplier group in terms of market share. Market share of 9.8% is derived from BTM Consult ApS World Market Update 2009, ranking Suzlon with 6.4 per cent of global market share and REpower with 3.4 per cent of global wind energy market share.