Suzlon Wind Power Group re-organizes finance function

Suzlon Group announced that Kirti Vagadia is assuming full CFO responsibilities as Robin Banerjee leaves the company to take up a new position outside the Group.

Suzlon Group’s Chairman, Tulsi Tanti, said: "Kirti Vagadia has been overseeing this function at a Group level, so as we look to streamline our finance department infrastructure, it makes perfect sense for Kirti to assume this additional role. Kirti has worked closely with me for many years now and I am confident this will be a seamless transition and he will take our finance function to the next level.

"We are grateful to Robin for his hard work, particularly in refinancing the company a couple of years ago and also in securing our enhanced working capital facilities; Robin leaves with our best wishes.”

Out-going CFO Robin Banerjee said: "It has been a privilege to work on what I believe will be seen, in time, as a great corporate turnaround. Tulsi Tanti is a man of great vision, and to have had an exciting role turning aspects of that vision into reality has been a great experience for me."

Kirti Vagadia, a chartered accountant with over 23 years’ experience including 16 years in the wind energy sector. He carries rich experience and expertise in the capital markets, M&A, finance and taxation.

The Suzlon Group is ranked as the world’s fifth largest wind turbines supplier, in terms of cumulative installed wind farm capacity, at the end of 2010. The company’s global spread extends across Asia, Australia, Europe, Africa and North and South America with over 19,000 MW of wind energy capacity installed in 28 countries, operations across 32 countries and a workforce of over 13,000.

The Group offers one of the most comprehensive product portfolios –ranging from sub-megawatt on-shore wind turbines at 600 Kilowatts (KW), to the world’s largest commercial 6.15 MW offshore wind turbine – with a vertically integrated, low-cost, manufacturing base. The Group – headquartered at Suzlon One Earth in Pune, India – comprises Suzlon Energy Limited and its subsidiaries, including REpower Systems SE.