TPG Inc. is actively negotiating the acquisition of Indian wind energy assets of Gamesa, a subsidiary of German Siemens Energy AG. This is reported in a press release from Siemens Energy.
As part of the proposed deal, the value of Siemens Gamesa's Indian assets may exceed $300 million.
In October 2024, Siemens Energy announced that it was considering selling its assets in India, sparking interest from investors including TPG, JSW Energy Ltd. and Inox Wind Ltd.
Negotiations are ongoing, and a final decision has not yet been made.
Siemens Energy received large orders at the end of 2022 and is currently implementing 11 projects to connect wind farms to high-voltage grids in Germany, the United Kingdom and the United States.
In May 2024, Siemens Gamesa initiated comprehensive restructuring and long-term strategic development measures with the aim of achieving break-even by 2026. Production facilities are planned to be adapted to strategic plans. The most important offshore project is to increase capacity at sites in Cuxhaven (Germany), Aalborg (Denmark) and Le Havre (France).
In order to further expand the service sector, the onshore turbine business and the service business will be merged. The new organizational model will also allow for clearer regulation of responsibilities.
On June 1, 2024, the central functions of Siemens Gamesa were transferred to global management at the group level, and the accounting, control and taxation departments were merged at the initial stage of integration.
Siemens Gamesa Renewable Energy is a manufacturer of wind turbines and a subsidiary of Siemens Energy.
Siemens Energy is a German company that manufactures equipment for the energy industry. The company was established in April 2020 as part of the separation of the Siemens energy division into an independent company. At the same time, the concern retains 35% of the company's shares. The headquarters is located in Munich (Germany).
TPG Inc. is an American private equity firm headquartered in Fort Worth, Texas. The company manages investment funds in the capital growth, venture capital, public equity and debt investment sectors and invests in various industries including consumer market, media and telecommunications, industry, technology, travel, leisure and healthcare.
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