- Alfanar has acquired Indian Wind Turbine Manufacturer Senvion India.
- The deal represents Alfanar first entry into the Indian wind power market.
Saudi Arabia-based Power equipment manufacturer, Alfanar has acquired wind turbine manufacturer Senvion India from Senvion GmbH. Alfanar believes that this acquisition will strengthen the company’s Alfanar’s position in India’s renewable energy space as it will provide full engineering, procurement, and construction and operation and maintenance solutions for wind power projects.
Alfanar acquired Senvion via its investment vehicle Global Renewable Energy Development Holding Company (GREDHCL). “Alfanar’s investment in Senvion India is a start towards the goal to be a major player in the Indian energy sector through its services in the fields of renewable energy and grid substations,” stated Jamal Wadi, MD of GREDHCL and president of Alfanar’s energy and renewable business.
Amit Kansal, Senvion India’s CEO, noted that the acquisition would enable the company to scale up its operations as it has already localised 85 per cent of its turbines in India.