TPG, Mavco Seek CCI Nod for Siemens Wind Biz Deal
POWER & RENEWABLE ENERGY

TPG, Mavco Seek CCI Nod for Siemens Wind Biz Deal

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.

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.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement