A consortium led by global investment firm TPG, along with Mavco Investments and energy sector veteran Prashant Jain, has approached India’s fair trade regulator for approval to acquire Siemens Gamesa’s onshore wind turbine business in India and Sri Lanka.

The proposed acquisition includes the manufacturing, assembly, and maintenance operations of onshore wind turbine generators, along with associated technical services. Regulatory clearance is currently pending.

The deal, if approved, would mark a significant expansion of the consortium's presence in the renewable energy sector across India and Sri Lanka. TPG is participating in the transaction through its affiliates—Peony Properties Pvt Ltd and TPG REGen SG Pte Ltd.

Mavco Investments, a private entity associated with members of the Murugappa family, and Prashant Jain, former CEO of JSW Energy, are also key members of the bidding consortium.

According to filings submitted to the Competition Commission of India (CCI), the acquisition aims to take over Siemens Gamesa Renewable Power’s operations related to onshore wind turbine generators and their lifecycle services.

Regulatory Approval Pending

While the consortium has not disclosed financial terms of the deal, the proposal underscores growing interest in India’s renewable energy market, particularly in wind energy infrastructure. The completion of the acquisition remains subject to CCI approval.

Further details regarding the transaction are expected to be released following regulatory clearance.

Read: Top 10 Wind Turbine Manufacturers in India

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