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TPG–MAVCO Finalize Acquisition of Siemens Gamesa’s India & Sri Lanka Wind Operations, Launch Vayona Energy

TPG and MAVCO have completed the acquisition of Siemens Gamesa’s onshore wind business in India and Sri Lanka, marking the official debut of Vayona Energy — a new independent wind turbine manufacturer built on Siemens Gamesa’s technological foundation, strengthened by fresh capital and strong regional partnerships.

Vayona Energy Launched Following Strategic Acquisition

The acquisition of Siemens Gamesa’s onshore wind operations in India and Sri Lanka by global investment firm TPG and MAVCO — a private entity associated with select members of the Murugappa family — has resulted in the formation of Vayona Energy. The new company positions itself as a major wind turbine OEM for India and South Asia, with a clear mandate to accelerate the region’s shift toward clean and reliable energy.

Vayona Energy integrates Siemens Gamesa’s long-standing manufacturing and technology expertise in India with enhanced financial support, local alliances, and experienced leadership, enabling the company to scale its presence in high-growth renewable markets.

Leadership Outlines Vision for Growth

“We are delighted to introduce Vayona Energy. India, now the world’s third-largest energy consumer, presents tremendous potential for renewable energy expansion. With the combined strengths of TPG, MAVCO Investments, and continued collaboration with Siemens Energy, Vayona Energy will drive wind innovation, expand installations, and create long-term value for communities across India and other emerging regions,” said Prashant Jain, Executive Vice Chairman, Vayona Energy.

With a customer order pipeline of over 1 GW and an O&M portfolio exceeding 8 GW, the company enters the market with a solid operational foundation.

Chairman Vellayan Subbiah added, “The energy transition represents one of the most significant opportunities of our time. Backed by a strong consortium and a robust industrial platform, Vayona aims to deliver high-quality, Made-in-India wind turbines that meet global standards while remaining cost-efficient for customers.”

A Strategic Platform for Onshore Wind Expansion

The creation of Vayona Energy follows the strategic partnership announced in March 2025 between TPG, Siemens Gamesa, MAVCO, and Prashant Jain. TPG’s investment was executed through TPG Rise Climate, marking the first deployment under its Global South Initiative, developed in partnership with ALTÉRRA to scale climate solutions across developing regions.

“We are proud to support Vayona Energy and begin this new chapter. With seasoned teams and proven technology, the company is well equipped to expand its operational capabilities and deliver impactful renewable energy projects,” said Ankur Thadani, Partner at TPG and Head of Climate, Asia.

Strong Backing and Continued Technology Partnership

With a workforce of nearly 1,000 professionals and a portfolio of more than 12 GW of operational and developmental assets, Vayona Energy is well-positioned to serve the region’s growing demand for clean, cost-effective wind power.

Vinod Philip, Board Member at Siemens Energy, emphasized, “India remains a pivotal growth market for wind. Through ongoing technology collaboration and our role as a strategic shareholder, we look forward to supporting Vayona as it builds on its heritage and delivers greater value to customers and the wider renewable ecosystem.”