+
TPG, Mavco to Acquire Siemens Gamesa’s India Wind Business
POWER & RENEWABLE ENERGY

TPG, Mavco to Acquire Siemens Gamesa’s India Wind Business

A consortium led by American private equity firm TPG, Mavco Investments, and former JSW Energy CEO Prashant Jain has approached the Competition Commission of India (CCI) to acquire Siemens Gamesa’s onshore wind business in India and Sri Lanka.

The proposed acquisition involves TPG’s affiliates—Peony Properties Pvt Ltd and TPG REGen SG Pte—and Mavco Investments, a Murugappa family-owned company. According to a notice filed with the CCI on 15 May, the acquisition covers Siemens Gamesa Renewable Power’s manufacturing and assembly of onshore wind turbine generators, along with their operations, maintenance, and technical services.

Siemens Gamesa Renewable Energy Lanka (Pvt) Ltd is also part of the deal. The business currently operates as a wholly owned indirect subsidiary of Siemens Energy’s global holding entity, SEAG.

The acquisition has been filed under Section 5(a)(i)(A) of the Competition Act, 2002. The consortium stated that the deal would not significantly alter market competition or structure. Limited vertical overlaps between Mavco’s affiliates and the wind business—such as in gearboxes, generators, switchgear, and transformers—were acknowledged but deemed non-consequential.

Prashant Jain’s Tikri Investments will also take a minority stake in the venture as a “Climate Change Partner.”

The transaction follows a March 2025 announcement where TPG agreed to acquire a majority interest in Siemens Gamesa’s onshore wind turbine manufacturing business in India and Sri Lanka. Siemens Gamesa will retain a continued investment, while Mavco will hold a significant minority share alongside TPG.

This strategic move signals renewed investor interest in India’s clean energy sector, particularly in onshore wind, as the country accelerates its renewable energy goals.

A consortium led by American private equity firm TPG, Mavco Investments, and former JSW Energy CEO Prashant Jain has approached the Competition Commission of India (CCI) to acquire Siemens Gamesa’s onshore wind business in India and Sri Lanka.The proposed acquisition involves TPG’s affiliates—Peony Properties Pvt Ltd and TPG REGen SG Pte—and Mavco Investments, a Murugappa family-owned company. According to a notice filed with the CCI on 15 May, the acquisition covers Siemens Gamesa Renewable Power’s manufacturing and assembly of onshore wind turbine generators, along with their operations, maintenance, and technical services.Siemens Gamesa Renewable Energy Lanka (Pvt) Ltd is also part of the deal. The business currently operates as a wholly owned indirect subsidiary of Siemens Energy’s global holding entity, SEAG.The acquisition has been filed under Section 5(a)(i)(A) of the Competition Act, 2002. The consortium stated that the deal would not significantly alter market competition or structure. Limited vertical overlaps between Mavco’s affiliates and the wind business—such as in gearboxes, generators, switchgear, and transformers—were acknowledged but deemed non-consequential.Prashant Jain’s Tikri Investments will also take a minority stake in the venture as a “Climate Change Partner.”The transaction follows a March 2025 announcement where TPG agreed to acquire a majority interest in Siemens Gamesa’s onshore wind turbine manufacturing business in India and Sri Lanka. Siemens Gamesa will retain a continued investment, while Mavco will hold a significant minority share alongside TPG.This strategic move signals renewed investor interest in India’s clean energy sector, particularly in onshore wind, as the country accelerates its renewable energy goals.

Next Story
Real Estate

Manglam, Fern Hotels Sign 200+ Key Apart’otel in Jaipur’s Pinkwalk

Manglam Group has signed a 200+ key serviced apart’otel under the Fern Habitat brand in Jaipur, marking a key milestone in its Rs 10 billion hospitality investment strategy. Located within Pinkwalk, Manglam’s flagship mixed-use development in Jagatpura, the project will cater to both short and extended-stay travellers with apartment-style units paired with hotel services. The Fern Habitat Pinkwalk will offer fully serviced accommodations with kitchenettes, daily housekeeping, and on-site dining. The concept blends the independence of apartment living with the comfort of hotel-grade am..

Next Story
Real Estate

Schon Doorways Launches Monsoon-Ready Aluminium Casement Windows

Schon Doorways, a premium player in doors and window solutions, has launched its new range of aluminium casement and sliding windows, designed specifically to endure the Indian monsoon. Engineered with high-performance tempered glass and ultra-slim aluminium profiles, the windows combine aesthetic appeal with monsoon resilience. Available in single and double track options, the windows offer anti-collision strips, flyscreens, and high load-bearing strength—providing protection against heavy rains, strong winds, and pests. Wall thickness ranges from 1.6 mm to 5.00 mm, offering flexibilit..

Next Story
Resources

LG Charts Global HVAC Leadership With AI, Acquisitions and Localisation

LG Electronics has unveiled a strategic roadmap to transform its ES Company into a top-tier global HVAC solutions provider by 2030, targeting KRW 20 trillion in revenue. The plan, announced at LG Sciencepark, South Korea, focuses on expanding B2B industrial sales, advancing AI-based technologies for data centres, and strengthening localised operations across key regions. Central to LG’s roadmap is growth in the fast-expanding data centre cooling segment. With the global chiller market projected to reach USD 12 billion by 2027, LG aims for KRW 1 trillion in sales by 2027. The company has..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?