TPG-Led Consortium Seeks CCI Green Light for Siemens Gamesa Wind Biz Buyout, Eyes Major Boost for India’s Renewable Sector

US private equity giant TPG-led consortium, comprising Mavco Investments (objected to the Murugappa family) and industry veteran Prashant Jain, has approached the Competition Commission of India (CCI) with an offer to purchase Siemens Gamesa's onshore wind business in India and Sri Lanka. The deal comprises production, assembly, and refurbishment of onshore wind turbine generators and transferring around 1,000 employees and two factories to an independent new entity with TPG having a majority stake and Siemens Gamesa having a 10% stake.

 

This strategic move is poised to push India's wind energy strategy ahead, with India targeting the addition of another 57 GW of wind capacity by 2032. The consortium demands the agreement not distorting competition, citing only limited overlaps in ancillary industries. The JV also marks the first investment of the Global South Initiative of TPG, focused on growing climate solutions in emerging markets.

 

Source: Economic Times, Siemens Energy, The Week