Senvion forays into India, a year after sale by Suzlon
German wind turbine maker Senvion forayed into the Indian market and will be headed by Amit Kansal, former commercial country manager of Vestas India.
The move comes just a year after Indian wind turbine maker Suzlon had sold Senvion to buyout firm Centerbridge Partners for $1.16 billion in a all cash deal, as a part of its plan to cut debt. Senvion, previously known as REpower Systems SE, was bought by Suzlon in a series of tranches totalling $1.4 billion that gave the Indian company full control in 2011.
In a statement, Senvion said it would be starting operations in India on February 22 and Kansal will lead the Senvion office in Delhi as CEO and Managing Director.
In addition to the Senvion R&D Center in Bengaluru that supports Senvion’s global TechCenter in Osterrönfeld, Germany, the Senvion India subsidiary will focus on providing the high-quality wind energy solutions for Indian wind sites, the release said.
“India is a market where Senvion can offer the right products and services as well as the dedication and flexibility that is needed,” Gürgen Geissinger, CEO of Senvion said. “I am confident about introducing Senvion to the Indian market.”
Till date, Senvion is present in 20 countries in five continents.
Indian government has set ambitious goals for renewable energy. It plans to have 60 gigawatts of wind power by 2022, when compared to the current installed capacity of 25.5 gigawatts.
“Given the strong initiative by Indian government on renewable energy, it is exactly the right time for Senvion to enter the Indian market. India has huge potential in wind power. What this market needs is an agile and fresh-minded company that is willing and able to apply new approaches and adapt to these needs,” Amit Kansal, CEO and Managing Director of Senvion India said.
The impact of Senvion on the Indian market would be closely watched.
Source: The Hindu