Turbine maker Senvion GmbH has announced it has entered into an agreement to sell and transfer its fully operational Indian entity.

Last year, Senvion India, a fully independent entity of Senvion GmbH, was made an independent entity to manufacture, supply and operate Senvion turbines. The transaction is likely to close before June.

Thorsten Bieg, Partner at GÖRG who joined the Management Board of Senvion GmbH as a restructuring expert, in a statement said, “This is a positive outcome for our Indian entity to find a safe-harbour and continue to serve one of the largest renewable energy markets. We have started working towards an earliest closure and transfer of the Indian business to the new shareholders.”

It has also signed up to transfer the relevant intellectual property and knowhow to Senvion India.

Amit Kansal, CEO and MD of Senvion India, said: “Senvion India makes 85 per cent of its turbines in India and has created over 1000 jobs directly and indirectly. We will continue to provide world-class wind energy solution to projects in India. Senvion India continues to service its installed base and deliver its project while we close this transaction.”

Senvion India has been operational since 2016 and has a fully manufacturing set-up in India along with full a delivery of turnkey solutions and after-market service. It has localised its turbines up to 85 per cent thus creating jobs in India and opportunity to ancillary industry related to wind power.

The company had recently installed a prototype of its 130 m rotor turbine. It has an R&D centre in India, which will serve the emerging Senvion India independent entity to develop and deploy new and future technologies.

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