Siemens Energy sells most of Indian wind business to TPG-led investor group

Business and Finance Business and Finance

Wed, March 26, 2025

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Siemens Energy sells most of Indian wind business to TPG-led investor group

^{Published on 2025-03-26 04:40:52 - Reuters}

Siemens Energy will sell 90% of its wind business in India and Sri Lanka to an investor group led by the climate investment arm of buyout group TPG, it said on Wednesday, in a push to focus on what it sees as core markets.

Siemens Energy AG has agreed to sell a majority stake in its Indian wind power business to a consortium led by TPG Inc., valuing the business at around $1 billion. The deal includes Siemens Gamesa Renewable Energy's Indian wind turbine business, with Siemens Energy retaining a 7.5% stake. The transaction, expected to close in the first half of 2024, will see the new entity, Siemens Gamesa Renewable Energy India Pvt., continue to use the Siemens Gamesa brand under a licensing agreement. This move is part of Siemens Energy's strategy to streamline its operations and focus on core businesses, while also addressing quality issues in its wind turbine division. The sale will help Siemens Energy reduce its net debt and improve its financial position, with the company also planning to invest in service and maintenance for its existing wind turbine installations in India.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/companies/siemens-energy-sells-most-of-indian-wind-business-to-tpg-led-investor-group/ar-AA1BG74U ]

N@N

Siemens Energy sells most of Indian wind business to TPG-led investor group