TPG, Mavco Seek CCI Nod for Siemens Wind Biz Deal

22 May 2025 CW Team

A consortium led by US private equity firm TPG, Mavco Investments, and former JSW Energy CEO Prashant Jain has filed for approval with the Competition Commission of India (CCI) to acquire the onshore wind business of Siemens Gamesa Renewable Power.

The acquisition will be carried out through TPG’s affiliates—Peony Properties Pvt Ltd and TPG REGen SG Pte—alongside Mavco Investments, a Murugappa family-owned firm.

According to the notice submitted to the CCI on 15 May, the deal covers Siemens Gamesa’s business operations related to the manufacturing and assembly of onshore wind turbine generators, along with operation, maintenance, and technical services for wind turbines and wind power projects in India and Sri Lanka. These assets are currently held by Siemens Gamesa Renewable Power and Siemens Gamesa Renewable Energy Lanka Pvt Ltd.

SGRE is a wholly owned indirect subsidiary of Siemens Energy Global GmbH & Co. KG (SEAG), which is the parent entity of the Siemens Energy Group.

Also participating in the transaction is Prashant Jain’s Tikri Investments, which will acquire a minority stake and serve as a Climate Change Partner in the new venture.

The parties stated that the proposed acquisition is unlikely to alter competitive dynamics or have any appreciable adverse effect on competition in India. They noted limited vertical overlaps between the target business and Mavco affiliates in related areas such as gearboxes, generators, switchgears, and transformers for wind turbines.

This move follows the March 2025 announcement of an agreement between TPG and Siemens Gamesa under which TPG will acquire a majority stake in the onshore wind turbine business in India and Sri Lanka. Mavco will invest as a significant minority partner, while Siemens Gamesa will retain a continuing stake.

Infrastructure Energy

22 Oct 2025

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..