Following a US$550 million acquisition, Siemens Gamesa’s wind business transforms into Vayona Energy, inheriting 12GW assets, a 1000-strong workforce and leadership reshuffling.
The acquisition of Siemens Gamesa’s onshore wind business in India and Sri Lanka has been completed, and the business has a new name now; Vayona Energy. It was finalised by a consortium led by TPG and Mavco. The deal, first announced in March 2025, involves the purchase of a 90 per cent equity stake for a reported US$550 million. Siemens Energy retains the remaining 10 per cent.
The new entity will take over the manufacturing, installation and servicing operations previously run by Siemens Gamesa in the two markets. According to the announcement, Vayona Energy inherits around 1000 employees and established production infrastructure, along with a portfolio of more than 12GW of operational and development assets across India and Sri Lanka.
Leadership changes follow the transition. Vellayan Subbiah of the Murugappa Group will serve as chairman, while fund manager Prashant Jain has been appointed executive vice-chairman. The investment is being made through TPG’s climate-focused fund, TPG Rise Climate, with Jain also supporting the deal as a co-investor.
Jain said the launch of Vayona Energy comes at a critical moment for India’s clean energy sector. He described India as one of the most “dynamic” renewable energy markets, noting that the partnership between TPG, Mavco and Siemens Energy positions the new company to expand domestic wind deployment and deliver innovation for local communities.
He added that Vayona begins operations with a customer order book exceeding 1GW and an operations and maintenance portfolio of more than 8GW.
Siemens Energy board member Vinod Philip said the company sees India as a key market for wind growth. He said Siemens Energy would continue to support Vayona through technology collaboration and its minority ownership stake.
He mentioned that the local focus of the new organisation should help strengthen its market presence and enhance value for customers and the wider renewable energy ecosystem.
