TPG-Led Consortium Set to Transform Indian Wind Energy Sector

TPG-led consortium announced its acquisition of a 90% stake in Siemens Gamesa's onshore wind business in India and Sri Lanka. Siemens Gamesa, maintaining a 10% stake, aims to enhance its operation by creating a new independent company. This move supports India's transition to sustainable energy.

A TPG-led consortium has announced a strategic agreement to acquire a 90% stake in Siemens Gamesa's onshore wind turbine business in India and Sri Lanka. Siemens Gamesa will retain the remaining 10%, focusing on other key markets while supporting the new venture.

MAVCO Investments, linked to the Murugappa family, and Prashant Jain, will make minority investments in the venture. Post-deal, a new company will emerge to manufacture and service onshore wind turbines, capitalizing on India's growing wind energy potential.

With over 1,000 employees and existing infrastructure transitioning to the new firm, the agreement marks a pivotal moment in India's renewable energy landscape and aims to scale up clean power delivery across the region. The deal awaits closing conditions and regulatory approval.

(With inputs from agencies.)