Khaitan & Co Advised TPG On Majority Stake Acquisition Of Siemens Gamesa’s Indian Wind Turbine Business

Khaitan & Co Advised TPG On Majority Stake Acquisition Of Siemens Gamesa’s Indian Wind Turbine Business

Khaitan & Co is advised 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 remains subject to closing conditions and regulatory approvals.

TPG’s investment will be made through TPG Rise Climate, its dedicated climate investing platform. This transaction also marks the first 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.

Following the transaction's completion, a new independent company will be created to handle manufacturing, installation, and servicing of onshore wind turbines, catering to the growing Indian wind energy market. TPG will hold a majority stake in this new entity, with MAVCO Investments making a significant minority investment alongside TPG. Siemens Gamesa will retain a minority stake, along with Prashant Jain, former CEO of JSW Energy, who will also acquire a minority interest.

The Khaitan & Co team advising TPG was led by Kartick Maheshwari (Partner), Kapish Mandhyan (Partner), and Anshuman Mozumdar (Partner), with strategic inputs from Haigreve Khaitan (Partner). The core deal team included Sweta Rao (Principal Associate), Reshma Abraham (Principal Associate), Ruturaj Jere (Principal Associate), Akshay Madan (Senior Associate), Nikhil Shahi (Senior Associate), Ansif Latheef (Associate), Kopal Agarwal (Associate), Prakhar Khandelwal (Associate), Radhika Goenka (Associate), Sanjana Dwivedi (Associate), Jahanvi Tuli (Associate), Miheer Jain (Associate), Naina Bora (Associate), Trisha Agarwala (Associate), Unnati Goel (Associate), and Pavitra Khaitan (Associate).

The team was further strengthened by specialists across various legal domains. The antitrust aspects were overseen by Anisha Chand (Partner), while the employment and benefits-related matters were handled by Deepak Kumar (Partner) and Shabnam Shaikh (Partner). The regulatory aspects of the transaction were managed by Gahan Singh (Partner), whereas structuring and financing matters were led by Manisha Shroff (Partner), Divaspati Singh (Partner), and Prateek Desai (Partner). Intellectual property-related considerations were addressed by Nirupam Lodha (Partner), and real estate matters were managed by Amit Wadhwani (Partner), Arva Merchant (Partner), and Sudheer Madamaiah (Partner). Additionally, the litigation aspects were supervised by Sneha Janakiraman (Partner).

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