Siemens Energy Sells Majority Stake in Indian Wind Business to TPG-Led Group

Siemens Energy has agreed to divest 90% of its wind turbine operations in India and Sri Lanka to an investor consortium led by TPG's climate investment division. This strategic move allows Siemens Energy to concentrate on its core markets. Financial specifics of the transaction remain undisclosed. The deal includes the transfer of approximately 1,000 employees and two manufacturing facilities to the new entity, while around 1,200 local staff will continue under Siemens Energy. Despite holding a 30% market share and an installation base nearing 10 gigawatts in India, Siemens Gamesa, the company's wind turbine segment, cited intense competition as a factor in seeking strategic alternatives. 

Source: Reuters