Erstwhile Suzlon company Senvion has acquired the assets of Kenersys India from the Kalyani Group. First Reserve Corporation, an US-based private equity company, is an investor in Kenersys.
The Hamburg-based wind turbine maker, Senvion, will acquire Kenersys India with its manufacturing facility in Baramati for an undisclosed amount.
Senvion will take over the wind turbine nacelle production facilities and infrastructure, complete product portfolio suite, wind turbine inventory and the service operations located at Baramati.
Senvion has identified India as the growth market for the company given the fact that the country has set 60 gigawatts of cumulative wind energy installations by 2022.
This marks the exit of the Kalyani Group from Kenersys which was the wind-power business arm of the Kalyani Group.
The Kalyani Group forayed into wind-power business in 2007 by acquiring this Germany based company.
First Reserve Corporation invested in Kenersys in April 2008.
Kenersys had set up its wind turbine production plant at Baramati in September 2011 to make large multi-megawatt turbines.
Tata Power, Ushdev, Serum Institute, Panchshil and Bharat Forge, were among its customers.