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Alfanar buys wind turbine maker Senvion India

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Alfanar has commissioned a 300 MW wind mission in Gujarat that was awarded below the third tranche of the SECI auctions. It is usually executing one other 300 MW of wind mission in Gujarat that was awarded below SECI fifth tranche.

Saudi Arabia-based Alfanar on Thursday introduced 100% acquisition of wind turbine maker Senvion India from German agency Senvion GmbH. The monetary particulars of the deal weren’t disclosed. Senvion GmbH had mentioned in April, 2020 that it has entered right into a binding settlement with “a strategic investor” to promote its Indian unit, which presently has a 500 mega-watt (MW) manufacturing capability.

“Alfanar’s funding in Senvion India is a begin in the direction of the aim to be a significant participant in Indian vitality sector by means of its companies within the fields of renewable vitality and grid sub-stations,” Jamal Wadi, president of Alfanar’s vitality and renewable enterprise mentioned.

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Alfanar has commissioned a 300 MW wind mission in Gujarat that was awarded below the third tranche of the SECI auctions. It is usually executing one other 300 MW of wind mission in Gujarat that was awarded below SECI fifth tranche.

Senvion GmbH had filed for chapter in Germany in April 2019 and had undergone a monetary restructuring as per German legal guidelines. “It was essential to discover a secure harbour for Senvion India, which was doing very nicely in any other case,” the corporate had mentioned in 2020. Senvion was the German arm of Suzlon until FY14, earlier than it was offered to a personal fairness consortium in FY15 at about Rs 7,000 crore. Senvion India has been operational since 2016.

“Now with Alfanar, we’re very assured to scale-up the operations to fulfill the bold objectives of the Indian authorities in the direction of renewable vitality,” Amit Kansal, CEO of Senvion India mentioned.

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