TPG Consortium to Accelerate India's Wind Power Growth with Siemens Gamesa Acquisition

TPG, a global alternative asset management firm, leads a consortium to acquire a majority stake in Siemens Gamesa's onshore wind turbine manufacturing business in India and Sri Lanka. The partnership includes investments from MAVCO and former CEO Prashant Jain, aiming to enhance India's wind power development.

TPG, a leading global alternative asset management firm, has spearheaded a consortium to acquire a majority stake in Siemens Gamesa's onshore wind turbine generator manufacturing operations in India and Sri Lanka. The move marks a strategic partnership aimed at bolstering India's renewable energy sector.

The consortium includes significant contributions from MAVCO Investments, a private entity linked to the Murugappa family, and Prashant Jain, the former CEO of JSW Energy, who will participate as a Climate Change Partner. Siemens Gamesa will maintain a minority stake while transferring employees and infrastructure under the new arrangement.

This transaction, still pending regulatory approvals, will establish an independent company to drive onshore wind turbine manufacturing and service, leveraging Siemens Gamesa's technology. The initiative promises to meet rising demand, support India's green power agenda, and enhance its socio-economic landscape.

(With inputs from agencies.)