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TPG has emerged as the likeliest buyer after outbidding rivals including industry players and private equity firms, the people said, asking not to be identified because the matter is private.
Suzlon can focus on quality orders and gain market share in the India wind turbine market
Sale of its India wind turbine business is Siemens Energy’s strategic move to stem losses and makes a choice to focus on lucrative markets such as the US and Europe
Land acquisition and availability of EPC capability are two major impediments in adding renewable energy capacity at the required rate in the country.
Brazil will be the first country in the world to operate Siemens Gamesa wind turbines with 6.2 megawatts (MW) of power and a 170-meter (558-ft) rotor, the largest available in the world, in onshore wind generation.
As per the contract, Siemens Gamesa will supply 52 units of its next generation SG 5.8-170 turbines to AES for its 312 MW Tucano wind farm in Brazil, the company said in a statement.
Siemens Gamesa said the assets it is buying include a large part of Senvion's European onshore services business, all its intellectual property as well as an onshore blade manufacturing facility in Vagos, Portugal.
Siemens, which owns 59 percent of the firm, and Iberdrola, which holds a 8 percent stake, will back the appointment of David Mesonero as new CFO at a board meeting due to take place on October 16, the sources added.
The company has two blade factories in Nellore in Andhra Pradesh and Halol in Gujarat, the release added.
The company began its Indian journey in 2009 and emerged as the largest player within 5 years and has also commissioned a record 2000 MW last fiscal, a statement said. The company has operations across seven key wind states supported by a strong local service presence and has been the market leader for the past three years.
