With this acquisition, Senvion will obtain full rights to own and sell the Kenersys India product portfolio, including Kenersys’ wind turbines.
Senvion, a global manufacturer of wind turbines, has signed definitive agreements to acquire the wind-turbine nacelle production facilities and infrastructure — complete product portfolio suite, turbine inventory, and service operations — of Kenersys India Private Limited, in Baramati, India.
Senvion will start operations immediately after closing of the transaction and obtaining the necessary approvals. The production facility has nearly 250 MW of capacity with potential for further expansion. The product portfolio of the acquired assets ranges from 2.0 to 2.6 MW with rotor diameters from 82 to 120 meters, and includes cumulative installations of 220 MW in India with some of the large local key clients.
The order represents Senvion’s plan to move ahead with its penetration of new core markets.
“There are two main advantages of this acquisition,” said Jürgen Geissinger, CEO of Senvion. “Firstly, we shorten our time-to-market in India rapidly and, secondly, we can build on a strong base to further align the Kenersys products with our existing Indian R&D organization, and the well-known technical expertise from our Senvion tech centre in Germany. By adding 2-MW turbines with rotor diameters of 110 and 120 meters to our existing portfolio, we are able to offer our customers in India even more profitable and cost-efficient Senvion technology.”
With this acquisition, Senvion gets full rights to own, enhance, and sell the Kenersys’ India product portfolio worldwide, including K82 (2.0 MW), K100 (2.6 MW), K110 (2.4 MW), and K120 (2.3 MW) in development. The existing products are also registered with the National Institute of Wind Energy, India, and are available for Senvion immediately.
Additionally, Senvion will take over the complete Indian service operations of Kenersys India Private Limited.
“We believe that this acquisition comes at the right time for us when the Indian Government sets its sights on 60 GW of cumulative wind energy installations by 2022, and will have a positive impact on creating jobs in India for delivering state-of-the-art solutions for India and additional markets,” said Geissinger.
Manav Sharma, CFO of Senvion, added: “With the acquisition of specific Kenersys India assets, we are creating a fusion of Senvion’s international growth strategy, high-quality engineering competence, and the Indian market presence of Kenersys.”
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