TPG Rise Climate & MAVCO Acquire Siemens Gamesa's Onshore Wind Business in India and Sri Lanka (Vayona Energy)
March 26, 2025
TPG, through its TPG Rise Climate platform, will acquire a majority stake in Siemens Gamesa's onshore wind turbine manufacturing business in India and Sri Lanka, with MAVCO Investments and industry veteran Prashant Jain taking significant minority stakes and Siemens Gamesa retaining a minority position. The transaction transfers roughly 1,000 employees and manufacturing infrastructure to a new independent company (launched as Vayona Energy) to scale manufacturing, installation and O&M of onshore wind turbines across India, Sri Lanka and the wider region.
- Buyers
- TPG (TPG Rise Climate), MAVCO Investments, Prashant Jain
- Targets
- Siemens Gamesa's onshore wind turbine manufacturing business in India and Sri Lanka (now Vayona Energy)
- Sellers
- Siemens Gamesa (Siemens Energy)
- Industry
- Energy
- Location
- India
- Transaction Type
- Buyout
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