Saudi's Alfanar closes in on Senvion India - report
Senvion wind turbines. Source: Senvion SE 2014. License: All rights reserved.
The energy arm of Saudi Arabia’s Alfanar Group is reportedly nearing the acquisition of Senvion India Pvt Ltd, which was spun off from German wind turbine maker Senvion last year.
The Hindu BusinessLine reports that the Saudi conglomerate is all set to take over the Indian firm. Industry sources have told the newspaper that Alfanar plans to manufacture turbines in India and then deliver them for installation as part of Saudi projects.
Last month, Senvion said it had signed a binding pact to offload its Indian manufacturing operations, but did not disclose the name of the strategic investor.
The report says that Alfanar Energy has won some 600 MW of wind projects in India and has awarded 450 MW of wind turbine orders related to these projects to Siemens Gamesa, which bought Senvion’s European onshore wind farm services business, assets associated with it and intellectual property (IP) in early 2020. The remaining 150 MW of orders were won by Senvion itself, according to the news article.