Suzlon Energy Chairman Speech

Dear Stakeholders,

Thirty years ago, when India was facing high power costs and frequent outages, Suzlon started with the mission to bring clean energy to India Inc. to offer them reliable and affordable power. That mission gradually evolved into a larger purpose of decarbonising the energy sector to combat climate change.

In the past three decades, we have introduced the concept of wind parks to India, built some of the largest wind farms in Asia, Australia, and South Africa for mass decarbonisation, and established the only Indian wind energy OEM to build domestic manufacturing capabilities, fulfilling the vision of our beloved Founder, the Late Mr. Tulsi Tanti.

Aligned with 16 of 17 United Nations Sustainable Development Goals (UN SDGs), we are now working towards supporting corporations and governments to achieve true energy security with renewable energy.

Renewable Energy Sector -Global Outlook

Despite geopolitical conflicts, the commitment to energy transition has continued. The energy demand increased by 2.2% globally in FY24, and the share of renewable energy in global power generation is projected to reach 46% by 2030, driven by policy support and a pledge from 130 countries to triple renewables.

Wind energy generation grew by 180 TWh, as renewables made up approximately three-quarters of the overall increase in power generation. It accounted for 8% of the total electricity generation - the second-highest contribution. In the global decarbonisation chapter, wind and solar made up 95% of all renewable energy capacity addition, showcasing stable growth and strong commitment to decarbonisation.

In my opinion, decarbonising the energy sector is our biggest task, as it can help us eliminate over 75% of the world’s carbon emissions, with a rippling effect in other power-intensive industries like electric vehicles (EVs) and steel, which are responsible for several gigatons of carbon emissions per year. With the net-zero deadline nearing, I truly believe that the opportunity to curb these emissions with a better, cleaner source of energy is now or never.

Energy security and energy independence are two pressing priorities for nearly every country at the moment. The global energy demand is estimated to double in the coming years, and renewable energy capacity is slated to grow by 90% by 2030. Wind and solar are expected to meet almost all of this demand, with new wind

installations projected to reach 138 GW in 2025. As a global leader in renewables, we consider it our responsibility towards the planet and its vulnerable communities to meet this expectation.

The share of renewable energy in global power generation is projected to reach

46 %

by 2030

Wind energy generation grew by

180 TWh_

Wind and solar made up

95 %

of all renewable energy capacity addition

Renewable energy capacity is slated to grow by

90 %

by 2030

New wind installations projected to reach

138 gw

by 2025

Renewable Energy Sector - India Outlook

In July 2025, India achieved a remarkable milestone of generating 50% of its total power of 484.8 GW from renewable energy sources. This milestone, constituting 242.8 GW of renewable energy, was achieved five year: before its original deadline of 2030, which is a result of ambitious pledges and collective action from every stakeholder in the ecosystem.

When Suzlon pioneered Indian renewable energy thirty years ago, the wind energy sector was stagnant with only 41 MW of installations. We established the first set of wind energy manufacturing plants in India to produce all major components of a turbine domestically. Today, the installations stand at 51 GW. Being India’s No. 1 Wind Energy Solutions provider, Suzlon contributes 29% to this capacity, alongside having an impactful presence in 17 countries.

In 2024, India was one of the top five markets for the highest new installations of onshore wind energy capacity. To meet India’s growing demand for power and prevent supply from becoming a bottleneck in the sector’s expansion, Suzlon ramped up its annual manufacturing capacity from 3,500 MW to 4,500 MW in FY25, the highest in India, with plans to expand it further underway.

India achieved a remarkable milestone of generating

50    %

of its total power of

484.8gw

from renewable energy sources The installations stand at

51    GW_

India is poised to achieve

10 GW

in annual wind energy capacity additions by 2030

Several analyses on the right mix of energy observe that adding more wind to the mix is key to achieving low-cost power. The higher the proportion of wind, the lower the per-unit cost of energy. Therefore, while it is essential to follow global trends in renewables, it is even more important for India to tailor its energy mix to its actual needs.

As India becomes poised to achieve 10 GW in annual wind energy capacity additions by 2030, Suzlon is equipped to lead this growth with homegrown innovation and talent.

Technology and Innovation

Suzlon’s wind turbines are engineered specifically for India’s diverse and challenging wind conditions. With an emphasis on lowering the Levelised Cost of Energy (LCOE), they are built to deliver high availability and dependable performance with reduced downtime.

We regularly introspect and acknowledge the evolving market dynamics to adapt to them, continuing to lead the charge in renewable energy. Our wind turbines have always been a product of our customers’ requirements since inception, and the 3 MW series is yet another proof of this.

The series has been tremendously successful since its launch, making up 91% of our order book as of March 2025.

I am delighted to share that the S144 model from this series has been certified as having the lowest carbon footprint of any turbine in India and among the lowest in the world. At 6.17 gCO₂ per kWh, Suzlon’s technology has set a global benchmark in climate action.

One key amendment issued by the Ministry of New and Renewable Energy (MNRE) in FY26 is the Approved List of Models and Manufacturers for Wind or ALMM (Wind), which mandates domestic sourcing of critical components, such as rotor blades, towers, gearboxes, and generators, along with strengthened cybersecurity.

Suzlon’s 75% of local content is above the industry average of 64%, and we are well-positioned to increase this number as an organisation and the sector, following the right policy support, which could not only boost India’s manufacturing strength but also protect jobs across the country’s wind energy value chain.

As the natural progression of technology goes, we are also integrating Artificial Intelligence in our operations, especially for preventive and predictive maintenance of our turbines, as part of our digitalisation process. This is positively impacting our technology’s performance and reliability, which will only improve as we evolve.

Suzlon’s

75 %

of local content is above the industry average of

64 %_

Three Decades of Leadership

Since 1995, Suzlon has contributed to India’s leadership in wind energy, helping it become the third-largest producer of wind energy in the world. Decarbonisation has been at the heart of everything we have done, and our recent memberships with the Climate Group’s RE100 and EV100 prove that we have not steered away from our core values even after three decades.

Similarly, our participation in the India Green Steel Coalition (IGSC) as a customer is critical for lowering the emissions of the highly power-intensive steel industry, while we aim to help drive up the demand for green steel to ensure India meets its net-zero target by 2070.

As a company, our top priorities remain empowering our customers with highly efficient machines and higher energy yields through tailored solutions and continuous support, while maintaining our market leadership through strategic growth and innovation.

We have always thought beyond Suzlon, and our purpose transcends the energy transition. We are here to accelerate the decarbonisation of the planet, and renewables are the most viable way to do that.

We continue to dedicate our work to those who are most affected by climate change and lack the resources to live better. Thank you to all our valued stakeholders for your support in our decarbonisation endeavours and for never losing faith in us as we do our bit to help make the world a better place.

Best wishes,

Vinod Tanti

Chairman and Managing Director,

Suzlon Group