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.

Equipment

11 Dec 2025

Caterpillar Debuts Three New Cat Excavators at EXCON 2025

Caterpillar Inc., a global leader in construction and mining machinery, strengthened its commitment to India’s infrastructure growth with the debut of three new Cat® hydraulic excavators at EXCON 2025, held from December 9–13 at the Bangalore International Exhibition Centre. The new models—Cat 321, Cat 322 and Cat 324—mark a significant step forward in delivering efficient, digital-ready equipment tailored for India’s evolving construction needs.Designed to support sustainability and productivity on modern jobsites, the machines feature advanced powertrains and intelligent electrohy..

JK Tyre Expands OTR Lineup with Four New Launches at EXCON 2025

JK Tyre & Industries, one of India’s leading tyre manufacturers, introduced four new Off-the-Road (OTR) tyres at the 13th edition of CII EXCON 2025, South Asia’s largest construction equipment exhibition, underway at the Bangalore International Exhibition Centre. The latest additions strengthen the company’s OTR portfolio and reaffirm its focus on delivering advanced mobility solutions for construction, mining and industrial operations.The new tyres were unveiled by R Mukhopadhyay, Director (R&D), JK Tyre. Among the highlights was the debut of the SKY GRIP, a specialised tyre des..

ACE, Sanghvi Movers Ink MOU to Boost India-Made Heavy Crane Adoption

Action Construction Equipment (ACE), the world’s largest pick-and-carry crane manufacturer and a leading Indian construction equipment maker, has entered into a strategic Memorandum of Understanding with Sanghvi Movers, Asia’s largest and the world’s fifth-largest crane rental company. The partnership aims to accelerate the deployment of indigenously manufactured heavy slew cranes, particularly truck cranes and crawler cranes, across large-scale infrastructure and industrial projects in India.The alliance aligns strongly with the Government of India’s “Aatmanirbhar Bharat” and “M..