New Delhi, June 3 -- MUMBAI: Suzlon Energy Ltd is embarking on its biggest expansion push in two decades, seeking to transform itself from a wind-turbine manufacturer into a full-service renewable energy company while avoiding the debt-heavy expansion.

Under a strategy it calls Suzlon 2.0, the company plans to expand beyond wind into solar and battery storage services, build a project-development business, and resume exports to overseas markets. Unlike its previous expansion cycle, however, the company says the new businesses will require limited capital and will largely be funded through internal accruals.

"We've chosen to play on our strengths," said Girish Tanti, vice chairman of Suzlon Group. "We believe with this model we really ca...