On December 1st, wind turbine manufacturer , Senvion Gmbh had announced to sell its Indian buisness line to Dubai based Global Renewable Energy Development Holding Company Limited for an undisclosed price. GREDHCL owns and manages multiple businesses involved in electrical manufacturing, project management and development, and O&M service around the world. The deal includes the complete transfer of Senvion India, including assets such as the factories, installed base of operations and maintenance (O&M) and current ongoing projects, intellectual property rights and its 300-plus workforce. The deal is expected to close in the first quarter of 2021. In April 2019, Siemens Gamesa acquired the European business of Senvion Gmbh. The Indian arm of Senvion was left out as Siemens Gamesa has large operations in India and, therefore, did not require Senvion India. Thereafter, it became an independent entity and now being acquired by GREDHCL. Senvion India has been a key participant in the Indian renewable energy sector since 2016 and acquisation will lead a way for GREDHCL to strengthen its footprint in the Indian market. Link to the news: https://renews.biz/64940/senvion-agrees-sale-of-business-in-india/
