Alfanar Acquires Wind Turbine Business Of Senvion India

In Wind, Clean News, News
Alfanar

Wind turbine manufacturer, Senvion, has sold its India business to the Saudi Arabia-based manufacturer of power equipment Alfanar.

Alfanar completed the transaction through Global Renewable Energy Development Holding Company Limited, which had acquired Senvion India in December 2020.

Senvion has had a roller-coaster relationship with India. Senvion Group was acquired by Suzlon Energy, once India’s largest wind energy solutions provider, in 2007. The group was known as REpower Systems at that time.

Suzlon was forced to sell Senvion in 2016 to a private equity investor after the former entered a financial tailspin.

In 2019, Senvion filed for bankruptcy and sold 9 gigawatts of wind energy assets to Siemens Gamesa, but separated its India business into a standalone company. The Indian company did manage to get some business, but has been unable to compete in a saturated market.

Alfanar

Alfanar does not have a large presence in India, but was able to secure rights to develop 300 megawatts of wind energy projects in an auction conducted by the Solar Energy Corporation of India. This acquisition seems to suggest the Alfanar may expand its portfolio as well as offerings in the Indian wind energy market.

Reference- Economic Times, Live mint, Mercom India, Businesswire

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