Senvion to sell Indian unit to Dubai-based investor

Senvion has agreed to sell its Indian operations to a Dubai-based fund, completing the carve-up of the German turbine manufacturer.

Global Renewable Energy Development Holding Company Limited (GREDHCL) will buy 100% of Senvion India, with the transaction expected to close in the first quarter of 2021.

The deal includes the complete transfer of Senvion India, including assets such as the factories, installed base of operations and maintenance (O&M) and current ongoing projects, intellectual property rights and its 300-plus workforce.

It follows Siemens Gamesa Renewable Energy acquiring Senvion’s European business earlier this year.

GREDHCL owns and manages multiple businesses involved in electrical manufacturing, project management and development, and O&M service around the world.

Senvion India’s CEO and managing director Amit Kansal said: “A new phase of growth for Senvion India shall start now with state-of-the art technology and dedicated people.”