Alfanar Successfully Completes 100% Acquisition of Wind Turbine OEM Senvion India
News Desk, News Nation 360 : Alfanar announced its entry into the Indian energy sector through 100% acquisition of wind turbine OEM Senvion India from Senvion GmbH. This is a unique and transformational deal for Alfanar which will strengthen its competitive position in India to grow its multi-dimensional end-to-end competitive solutions in the field of renewable energy and grid transmission along with powering Senvion India to continue to operate as a full-fledged OEM in the Indian market. Through this acquisition, Senvion India will provide full EPC and O&M solutions for wind power projects to customers in India. The acquisition was made through Global Renewable Energy Development Holding Company Limited (GREDHCL), a dedicated investment vehicle set up by promoters of Alfanar. Jamal Wadi, MD of GREDHCL and President of Alfanar’s Energy & Renewable business said that they are a strong believer that Renewable Energy is the only solution for a sustainable planet and given the single-digit penetration of renewable energy in the overall energy mix, we have a long way to go. 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. India is a very strategic market for Alfanar, and we are certain that with Alfanar’s support & commitment to Senvion’s experienced leadership team, they will significantly contribute to India’s goal of sustainable power generation and ‘Make In India’ initiative.
Report : Anustup Kundu