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TPG–MAVCO Consortium Acquires Siemens Gamesa’s India and Sri Lanka Wind Business

TPG and MAVCO’s completion of the acquisition of Siemens Gamesa’s onshore wind business in India and Sri Lanka paves the way for the launch of Vayona Energy, a new independent wind OEM that blends Siemens Gamesa’s technological legacy with capital backing and local partnerships to drive the clean energy transition in key growth markets.

December 02, 2025. By News Bureau

Following the acquisition of Siemens Gamesa’s onshore wind business in India and Sri Lanka by TPG and MAVCO, a private entity of select members of the Murugappa family, the newly formed independent company has officially rebranded as Vayona Energy. The company emerges as a leading wind turbine OEM in India and South Asia, with a commitment to accelerating the region’s transition toward green and sustainable power.

The partnership combines Siemens Gamesa’s legacy in India of manufacturing and technology with strategic capital, local partnerships, and leadership expertise – enabling Vayona Energy to accelerate clean energy transition in high-growth markets

“We are excited to introduce Vayona Energy to the market. As the world’s third-largest energy consumer, India is one of the most dynamic renewable energy markets, offering a significant opportunity for growth and large-scale clean energy deployment. With the strategic partnerships we have with TPG, MAVCO Investments, along with the continued collaboration with Siemens Energy, Vayona Energy is well positioned to drive innovation, expand wind energy deployment, and support local communities across India and other emerging countries,” said Prashant Jain, Executive Vice Chairman of Vayona Energy.

Vayona Energy builds on the strong industrial foundation of Siemens Gamesa’s business and enters the market with a clear strategy to scale its onshore wind solutions in India and South Asia. The company is being launched with a strong customer order book of 1GW+ and O&M portfolio of 8GW+.

Speaking in this regard, Vellayan Subbiah, Chairman, Vayona Energy and Director, MAVCO, commented, “Energy transition is one of the defining opportunities of our generation. We believe that Vayona, with its solid foundation and the diverse strengths of its consortium partners, is well placed to deliver high-quality, Made-in-India wind turbines and components at scale. The focus will be on achieving global standards at affordable price points to ensure maximum value for our customers.”

The formation of Vayona Energy follows the strategic partnership announced in March 2025, in which TPG, Siemens Gamesa, MAVCO, and Prashant Jain agreed to create a new independent platform for onshore wind in India and South Asia. TPG’s investment was made through TPG Rise Climate, its climate investing platform, and serves as the inaugural investment from its Global South Initiative, a private equity strategy to scale climate solutions across the Global South, that was launched in partnership with ALTÉRRA, a private investment vehicle for climate finance.

“We are proud to complete this important transaction and begin this next chapter as Vayona Energy. TPG is uniquely positioned to support Vayona and has demonstrated a strong commitment to scale businesses that are creating impactful renewable energy solutions. With experienced teams and proven technology, we look forward to continue supporting Vayona’s growth, as it looks to further strengthen relationships with customers, scale operational efficiency, and expand the pipeline of high-impact projects,” said Ankur Thadani, Partner, TPG, and Head of Climate, Asia.

With a workforce of approximately 1,000 professionals and a portfolio in excess of ~12GW in operational and development assets, Vayona Energy is well-positioned to deliver reliable, affordable, and clean energy across the region. Vellayan Subbiah has been appointed Chairman of Vayona Energy, with Prashant Jain taking on the role of Executive Vice Chairman to provide leadership and guidance as the company aims to address the wind market potential in India and South Asia.

Vinod Philip, Member of the Board, Siemens Energy, also said, “India continues to be a key growth market for wind energy. We will support Vayona through continued technology collaboration and our role as a strategic shareholder. With a stronger local focus, the new company is well positioned to build on its legacy and deliver greater value to customers and the broader renewable energy ecosystem.”

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Clean energy transition in India