Germany-based wind turbine maker Senvion signs pact to sell Indian entity

Mumbai: Wind turbine manufacturer Senvion on Tuesday said it has entered into a binding agreement to sell and transfer its fully operational Indian entity to a strategic investor. Last year, the Germany-based company had announced its decision to spin off Indian operations into a standalone and separate entity after it filed for insolvency in a German court.

“Senvion has entered into a binding agreement with a strategic investor to sell and transfer its fully operational Indian entity. This is further to our announcement last year where Senvion India was made an independent entity to manufacture, supply and operate the turbines,” the company said in a statement.

The company, however, did not provide any financial details of the deal.