Alfanar buys wind turbine maker Senvion India
Saudi Arabia-based Alfanar on Thursday announced 100% acquisition of wind turbine maker Senvion India from German firm Senvion GmbH. The financial details of the deal were not disclosed. Senvion GmbH had said in April, 2020 that it has entered into a binding agreement with “a strategic investor” to sell its Indian unit, which currently has a 500 mega-watt (MW) manufacturing capacity.
“Alfanar’s investment in Senvion India is a start towards the goal to be a major player in Indian energy sector through its services in the fields of renewable energy and grid sub-stations,” Jamal Wadi, president of Alfanar’s energy and renewable business said.
