Alfanar, a Saudi company, has announced its entry into Indian energy sector through 100% acquisition of wind turbine OEM Senvion India from Senvion GmbH.
Through this acquisition, Senvion India will provide full EPC and O&M solutions for wind power projects to customers in India. The acquisition was made through Global Renewable Energy Development Holding Company (GREDHCL), a dedicated investment vehicle set-up by promoters of Alfanar. Senvion India will continue to operate as a full-fledged OEM in the Indian market.