Senvion grants independence to Indian unit

Insolvent wind turbine maker Senvion SE (ETR:SEN) has decided to operate its Indian subsidiary as a standalone business unit, while the parent company is proceeding with a plan to potentially sell Senvion as a whole.

In a press release on Monday, Senvion said that the spin-off of the Indian unit means that Senvion India will operate independently and offer in-country turbine supply agreements, engineering, manufacturing, local research and development (R&D) support and service provision.

"The arrangement will help the company serve local clients in a growing market in the best possible way by improving efficiency and streamlining operations," said Senvion.

Mumbai-based Senvion India will continue to be a wholly-owned subsidiary of Senvion. The unit will get all licences its needs, R&D know-how and technical support in order to strengthen local capabilities. In India, the company has a dedicated R&D centre out of Bangalore and a nacelle manufacturing facility in Baramati.

In April the German firm’s main unit, Senvion GmbH, filed for self-administration proceedings as it was unable to agree on any financing options so as to secure the continuation of its operations.

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