TPG-Led Consortium to acquire Siemens Gamesa India for $500-550M – EQ
In Short : A TPG-led consortium is set to acquire Siemens Gamesa India for $500-550 million. This strategic move strengthens the consortium’s position in India’s growing renewable energy sector. Siemens Gamesa India, a key player in wind energy, will benefit from fresh investments and expansion opportunities, supporting India’s clean energy transition and boosting the country’s wind power capacity.
In Detail : A consortium led by TPG, Vellayan Subbiah and Prashant Jain, will acquire Siemens Gamesa Renewable Power for $500-550 million. Siemens Energy AG will retain a small stake in the company that holds the Indian wind energy assets of its Gamesa unit after the transaction is completed. The acquisition will be made through the buyout group’s Rise global impact investing platform.
Siemens Energy’s wind power unit and Spain’s Gamesa merged to form Siemens Gamesa in 2017. A formal announcement is due in the coming days. Siemens plans to scale up the business as it sees opportunities in energy transition and aims to streamline cost structures and boost productivity before taking it public.
Manufacturing presence and operations
Siemens Gamesa Renewable Power manufactures 9 GW of wind turbines, with plants in Nellore and Mamandur, plus an operations and maintenance centre in Red Hills, Chennai. Globally, Gamesa had reported a 4.4-billion euro loss in FY24, leading to a 4.6-billion euro loss for the European industrials group. In November 2023, Siemens Energy secured a €15 billion government-backed bailout, triggering a €400 million cost rationalisation, which has helped narrow its net losses.
Siemens Gamesa reduced its quarterly loss to €472 million in late 2024 from €670 million last year, driven by strong offshore wind sales. It will keep a small stake for business and technology continuity.
