Germany’s Senvion has acquired Indian wind turbine manufacturer Kenersys as it seeks to grow its foothold in India’s wind market.
The Hamburg-based company bought the Indian firm for an undisclosed sum and said the deal includes Kenersys’s 250 MW production site in Baramati, Maharashtra state, and its wind farm operations with an aggregate capacity of 220 MW.
Senvion also gained the right to sell Kenersys’ core product series of 2 MW and 2.6-MW turbines worldwide, according to an email statement by Chief Executive Officer Juergen Geissinger.
“There are two main advantages of this acquisition,” Geissinger said. “Firstly, we shorten our time-to-market in India rapidly and, secondly, we can build on a strong base to further align the Kenersys products with our existing Indian R&D organization, and the well-known technical expertise from our Senvion tech centre in Germany. By adding 2-MW turbines with rotor diameters of 110 and 120 meters to our existing portfolio, we are able to offer our customers in India even more profitable and cost-efficient Senvion technology.”
The move comes at a time in which the Indian government is promoting an ambitious renewable energy strategy.
Indian Prime Minister Narendra Modi’s target is to install 100 GW of solar, 60 GW of wind across the nation. The targets by 2022 would cost as much as $200bn, according to Bloomberg New Energy Finance.
[bc_video account_id=”1214147015″ player_id=”Hkvuzcnml” video_id=”5085368250001″ min_width=”320px”]