CCI Approves Wind Power Deal Involving TPG and SGRE
POWER & RENEWABLE ENERGY

CCI Approves Wind Power Deal Involving TPG and SGRE

The Competition Commission of India (CCI) has approved the proposed acquisition of the Target Business from Siemens Gamesa Renewable Energy (SGRE) and its Sri Lankan arm SGREL by a consortium including Peony Properties Private Limited (PPPL), TPG REGen SG Pte. Ltd. (TPG REGen), Mavco Investments Private Limited (Mavco), Tikri Investments (Tikri), and SGRE.
The Target Business includes the manufacture and assembly of onshore wind turbine generators, as well as the provision of operation, maintenance, and technical services for wind turbines and onshore wind power projects. These operations are currently carried out by SGRE in India and SGREL in Sri Lanka.
PPPL and TPG REGen are ultimately controlled by TPG Inc., a global investment firm listed on NASDAQ. Collectively, they are referred to as the TPG Group.
Mavco is a recently incorporated private limited company backed by individual and trust-based shareholders. Tikri is a partnership firm owned by Mr Prashant Jain and Mrs Seema Jain.
SGRE is a wholly owned indirect subsidiary of Siemens Energy AG (SEAG) and oversees the Target Business in India, while SGREL does the same in Sri Lanka.
The CCI’s detailed order on the transaction will be issued in due course. 

The Competition Commission of India (CCI) has approved the proposed acquisition of the Target Business from Siemens Gamesa Renewable Energy (SGRE) and its Sri Lankan arm SGREL by a consortium including Peony Properties Private Limited (PPPL), TPG REGen SG Pte. Ltd. (TPG REGen), Mavco Investments Private Limited (Mavco), Tikri Investments (Tikri), and SGRE.The Target Business includes the manufacture and assembly of onshore wind turbine generators, as well as the provision of operation, maintenance, and technical services for wind turbines and onshore wind power projects. These operations are currently carried out by SGRE in India and SGREL in Sri Lanka.PPPL and TPG REGen are ultimately controlled by TPG Inc., a global investment firm listed on NASDAQ. Collectively, they are referred to as the TPG Group.Mavco is a recently incorporated private limited company backed by individual and trust-based shareholders. Tikri is a partnership firm owned by Mr Prashant Jain and Mrs Seema Jain.SGRE is a wholly owned indirect subsidiary of Siemens Energy AG (SEAG) and oversees the Target Business in India, while SGREL does the same in Sri Lanka.The CCI’s detailed order on the transaction will be issued in due course. 

Next Story
Infrastructure Urban

Madurai Corporation Proposes Rs 1,400 Million Plan to Save Vaigai River

In a renewed effort to tackle pollution, the Madurai Corporation has submitted Rs 1,400 million proposal to the state government to upgrade the city’s drainage network and prevent untreated sewage from entering the Vaigai River. The proposal follows growing public concern over the river’s deteriorating condition despite previous mitigation efforts. The Vaigai flows for nearly 12 km within Madurai city limits, with sections obstructed by invasive plants, garbage, and untreated sewage. While multiple inlets contribute to contamination, the Panthalkudi canal in Goripalayam has been identifi..

Next Story
Infrastructure Transport

PM Modi Inaugurates Mumbai Metro 3 Final Phase, 33.5 km Aqua Line

Prime Minister Narendra Modi inaugurated the final phase of Mumbai’s first fully underground Metro 3, making the 33.5 km Aqua Line operational. The line connects Aarey in North Mumbai to Colaba in South Mumbai, aiming to ease congestion on suburban trains and roads. The final stretch, spanning 11.2 km from Acharya Atre Chowk in Worli to Cuffe Parade, provides connectivity to six major business centres, including Nariman Point, Cuffe Parade, Fort, Lower Parel, BKC, and SEEPZ/MIDC. According to Mumbai Metro Rail Corporation (MMRC), the stretch also links areas such as Kalbadevi, Girgaum, Worl..

Next Story
Building Material

M.E. Energy Wins Rs 490 Million Ferro Alloys EPC Order

M.E. Energy Pvt Ltd, a wholly owned subsidiary of Kilburn Engineering Ltd and a leading Indian engineering company specialising in energy recovery and cost reduction solutions, has secured its second consecutive major order valued at Rs 490 million in the ferro alloys sector. The order is for an Engineering Procurement and Construction (EPC) contract to develop a 12 MW Waste Heat Recovery Based Power Plant (WHRPP). This repeat order underscores the growing trust of the ferro alloys industry in M.E. Energy’s expertise in delivering reliable, efficient, and sustainable energy solutions tailor..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?