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

23 May 2025 CW Team

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.

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..