A TPG- and MAVCO-led consortium has completed its acquisition of Siemens Gamesa’s onshore wind business in India and Sri Lanka and launched the new independent platform Vayona Energy.
Vayona Energy has a workforce of around 1000 and a portfolio exceeding ~12GW of operational and development assets, the company said.
Mr Vellayan Subbiah has been appointed chairman with Prashant Jain taking the role of executive vice chairman.
“We are excited to introduce Vayona Energy to the market,” said Jain.
Vayona Energy enters the sector with a customer order book of more than 1GW and an O&M portfolio above 8GW.
“Energy transition is one of the defining opportunities of our generation,” added Subbiah.
“We are proud to complete this important transaction and begin this next chapter as Vayona Energy,” stated Ankur Thadani, partner at TPG and head of climate, Asia.
“India continues to be a key growth market for wind energy,” said Vinod Philip, member of the board of Siemens Energy.