May 15, 2007

Suzlon registers 108% growth

Mumbai: Suzlon Energy Limited (SEL), the world’s fifth largest 
wind turbine generator (WTG) company, and the largest WTG manufacturer 
in India and Asia, reported record growth for the
Financial Year ended March 31, 2007.

Financial Performance:
Suzlon Energy Ltd. announced standalone sales of INR 5,380cr.,
EBIDTA of INR 1,194 cr., and PAT of INR 1,061 cr. This being
first year of major internationalization of Group,
about 222 MW were in transit and the profit thereon of about
INR 234 Crores have been eliminated in consolidation.

The Suzlon Group reported 108% growth over the previous
year, with sales climbing to INR 7,986 cr. Overseas Sales stood
at INR 3,857 cr., around 48% of total sales during FY2006-07.
Profit after tax grew by 14% to INR 864 cr. and EPS stood at INR 30. 
EBDITA grew 50% from INR 865 cr. to 1,296 cr

The Group’s order book reflects the Company’s strong position; at INR 1,408 cr. (266 MW) in
domestic orders and 8,078 cr. (1692 MW) in overseas orders – making for a combined order book
value of 9,486 cr. (1,958 MW), as on 11th May 2007. The Suzlon Group supplied a total of 1456 MW
in the FY2006-07, including a 502 MW supplied to customers in overseas markets.

Speaking after announcing the results, Mr. Tulsi R. Tanti, Chairman and Managing Director
of Suzlon Energy Ltd., said: “The past year has been an eventful one for Suzlon and all our
stakeholders. This is the fourth consecutive year where we have achieved over 100% growth in a
supply restricted environment. We have taken on challenges on the global stage in our strategic drive
to reach all the world’s key markets for wind energy, and demonstrated our deliver across global
markets. Our initiatives in the past year have placed us in a very strong position to drive future

Suzlon maintained a strong focus on its strategic growth drivers – accelerating plans for capacity
addition, advance vertical integration, enter new markets, and drive R&D to develop the next
generation of wind turbines.

Suzlon’s strategic intent to establish a Group-wide management team took shape with the
establishment of the Group Management Center in Amsterdam, Holland. The Group expanded and
reinforced its management bandwidth with the recruitment of senior leaders for all major verticals and
functions, and the appointment of Mr. Andre Horbach as CEO of the Suzlon Group.

Reaching Across the World:
The Suzlon group in FY07 expanded its presence to 14 countries covering four continents, covering
Australia, Belgium, Brazil, China, Demark, Germany, Greece, Holland, India, Italy, New Zealand,

Portugal, South Korea and the United States. Suzlon’s Human Capital also grew apace to cross 10,000
people across functions, group companies and geographies. The company maintained its ranking as
the fifth leading wind turbine manufacturer worldwide, while increasing its previous market share by
over 28%, to capture 7.7% of the global market in CY06. The company also maintained market
leadership in India for the ninth consecutive year with over 50% of market share. (Source: BTM
Consult ApS: World Market Update 2006).

Strategic Integration:
Suzlon in FY07 took major strides towards its vision of being the most integrated wind turbine
manufacturer, and added significant capability to deliver wind power solutions in key markets, with
manufacturing capacity going from 1,500 MW to 2,700 MW in the past year.

Suzlon’s ability to meet market needs in China and the United States took a major step forward with
the opening of dedicated manufacturing facilities in the region. The strategically located facilities,
which will improve speed-to-market for Suzlon and its customers, and are part of the company’s long
term commitment to these markets and communities. New facilities in India also came on stream,
with a new tower and rotor blade manufacturing unit at Dhule, Maharashtra, and a new rotor blade
manufacturing facility in Bhuj, Gujarat located in close proximity to Suzlon’s wind farm projects.

Suzlon-subsidiary Hansen Transmissions, the world’s second largest wind gearbox manufacturer,
announced plans for a major capacity increase at its locations in Belgium, and new facilities planned in
India. Hansen announced plans to expand its Belgian facilities to 5,800 MW and build its
manufacturing facilities in India with a capacity of 3,500 MW. This capacity increase is being done in
phases and with Hansen’s total capacity reach 9,300 MW by the fourth quarter of FY09.

The company’s vision to become the most integrated wind turbine manufacturer through increasing
and manufacturing and assembly capability for components and sub-components - such as
generators, gearboxes, wind turbine towers and blades, forging and foundry components - remained
on track with a 1,500 MW wind turbine manufacturing facility planned in Karnataka and foundry and
forging units planned in Tamil Nadu and Gujarat. Suzlon is set to reach 4,200 MW of manufacturing
capacity, from the present 2,700 MW, by the end of FY08.

Inorganic Growth:
The Suzlon Group undertook a major endeavor in the last quarter of FY07, launching a bid to acquire
German turbine manufacturer REpower Systems AG. The friendly public offer is made in partnership
with the Martifer Group of Portugal – REpower’s second largest shareholder, and in competition with
an offer by the Areva Group of France.

The offer was made in recognition of the considerable potential synergies a combination of Suzlon and
REpower has to offer. The combined entity would be uniquely positioned to establish sustainable
global market leadership in the wind energy industry through best-in-class products, outstanding R&D
capabilities and an integrated supply chain. The acquisition would accelerate Suzlon’s drive into the
European market, and is a major step forward in out drive to rank among the top three wind energy

Speaking on the bid, CMD Tulsi R. Tanti stated: “Joining forces with REpower is a compelling valueenhancing
proposition for all our stakeholders. The combination will bring together two highly
complementary brands, competencies and market positions. We believe the business models of
REpower and Suzlon to be highly complementary – allowing for both entities to leverage the others
strengths to derive exponential benefits in a short period of time.”

The bid cleared all regulatory requirements and processes and is currently open for REpower
shareholders to tender their shares.

Driving R&D and Innovation:
Suzlon furthering its ‘best of all worlds’ R&D strategy announced plans to set up an integrated R&D
facility in the German city of Hamburg. The facility, envisioned as a Center of Excellence, will function
as a hub and integrator for Suzlon’s R&D efforts around the world. The center, in addition to building
on the expertise of our people, will forge relationships with universities and research institutes,
certifying agencies, suppliers’ et al. The extensive capabilities planned will reinforce and build on
specialized competencies through a Technology Center, Knowledge Management Center, Training
Center, and Prototype Test facilities. The company also announced plans to set up an Innovation
Center in Denmark to drive product and technology innovation.

The Road Ahead:
Suzlon demonstrated continuing strong sales growth in the opening days of FY08, securing major
orders, to the tune of nearly 500 MW, and diversifying its customer mix in the important North
American market. With a strong order book position and annual manufacturing capacity set to reach
4,200 MW by the end of FY08, Suzlon is well poised on the road of continued high growth.

Andre Horbach – CEO, Suzlon Group, stated: “The wind energy industry is growing rapidly and the
fundamentals of the industry are very strong. Suzlon is today in a very strong position with
sophisticated R&D capabilities, strong manufacturing base, a fully integrated value chain and a strong
presence in all key wind energy markets worldwide. Suzlon is set to play in increasing role in
propagating wind energy around the world.”

Added Mr. Tanti: “Mankind is rapidly waking up to the greatest threat we have ever faced - Climate
Change and Global Warming. With undeniable scientific evidence staring us in the face, there is
growing global consensus to face this challenge. We believe wind energy can and will play one of the
most important roles in saving the world of tomorrow, today. At Suzlon our vision goes beyond mere
numbers, we drive our business as a cause, one where we power a greener tomorrow.” 

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Dharini Mishra
Tel: +91 (20) 67025000