Saudi’s Alfanar acquires wind turbine maker Senvion India from Senvion
Senvion India will provide full EPC and O&M solutions for wind power projects to customers in India. Riyadh-based Alfanar holds 600 MW capacity in India won via auctions conducted by SECI.
Saudi Arabia’s Alfanar has acquired wind turbine maker Senvion India from Senvion GmbH. The acquisition was done through a dedicated investment vehicle set up by promoters of Alfanar – Global Renewable Energy Development Holding Company Limited (GREDHCL).
Senvion India will provide full EPC (engineering procurement and construction) and O&M (operations and maintenance) solutions for wind power projects to customers in India.
Jamal Wadi, Managing Director of GREDHCL and President of Alfanar’s Energy and Renewable Business said that India is a strategic market and the company’s investment in Senvion India was the first step to become a major player in the Indian energy sector through services in the fields of renewable energy and grid substations.
Alfanar has 480-megawatt (MW) wind power projects that are operational and 1.67 gigawatts (GW) under different stages of development in India, West Asia and Europe. The company holds 600 MW capacity in India won via auctions conducted by state-owned Solar Energy Corporation of India (SECI).
India has the world’s largest clean energy programme and aims to achieve 175 GW of clean energy capacity by 2022. The country’s current wind power generation capacity is 38.78 GW. As part of its climate change commitments, India plans to reach 60 GW wind power capacity by March 2022.
Source – Mint