TPG in Majority Stake Acquisition of Siemens Gamesa’s Indian Wind Turbine Business

Cleary Gottlieb is advising TPG in its agreement with Siemens Gamesa, under which TPG will acquire a majority stake in Siemens Gamesa’s onshore wind turbine generator manufacturing business in India and Sri Lanka.

The transaction is subject to closing conditions and regulatory approvals. Financial details of the investment were not disclosed.

TPG’s investment will be made through TPG Rise Climate, its dedicated climate investing platform, and the transaction will serve as the inaugural investment from its Global South Initiative, a private equity strategy launched in partnership with ALTÉRRA, the world’s largest private investment vehicle for climate finance, to scale climate solutions across the Global South.

Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions, and services, Siemens Energy covers almost the entire energy value chain—from power and heat generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers.

For more information, please see the press release.