Siemens Gamesa’s Indian business ‘up for sale’ – reNEWS

0 minutes, 56 seconds Read

Siemens Energy has reportedly put the Indian turbine unit of Siemens Gamesa up for sale with a US$1bn price tag. 

According to Indian financial news outlet Mint, two unnamed sources close to the deal have revealed Siemens Energy has appointed Barclays to lead the sales process. 

India’s largest alternative energy company Adani Renewable Energy is among those with the best chances of winning the bid, according to the report.


Masdar from Abu Dhabi and investors TPG Rise, Brookfield Energy Transition Funds and Macquarie have also been named as potential buyers. 

Siemens Energy said in a statement: “Siemens Gamesa recently presented a plan on how we can return the company to profitability.

“Part of this action plan is also the focus on core markets in the onshore sector, i.e. with wind turbines on land.

“Here, the company will concentrate on the core markets of Europe and the USA, but will also serve other markets where profitable business is possible.

“Further detailed decisions have not yet been made. The Indian market is fundamentally interesting for us; we have service obligations here that we will of course fulfill.”

This post was originally published on 3rd party site mentioned in the title of this site

Similar Posts