Turbine maker Senvion GmbH has announced it has entered into an agreement to sell and transfer its fully operational Indian entity.
Last year, Senvion India, a fully independent entity of Senvion GmbH, was made an independent entity to manufacture, supply and operate Senvion turbines. The transaction is likely to close before June.
Thorsten Bieg, Partner at GÖRG who joined the Management Board of Senvion GmbH as a restructuring expert, in a statement said, “This is a positive outcome for our Indian entity to find a safe-harbour and continue to serve one of the largest renewable energy markets. We have started working towards an earliest closure and transfer of the Indian business to the new shareholders.”
