Siemens Gamesa is on a mission to achieve break-even status by 2026, after anticipating a loss of €2bn in the fiscal year 2024. To get there, the company is selling its Indian wind turbine business, a subsidiary of Siemens Gamesa Renewable Energy. With annual revenues of $700m and a valuation of $1bn, the Indian unit has attracted interest from potential buyers such as Adani Renewable Energy, Brookfield Energy Transition Funds, Macquarie, Masdar, and TPG Rise.
Barclays is overseeing the sale process as Siemens Gamesa focuses on its core markets in Europe and the US. Despite challenges, the company considers the Indian market strategically important and will honour its service commitments in the region. The sale is part of Siemens Energy’s plan to fully integrate Siemens Gamesa and address quality and operational challenges.
Meanwhile, Siemens Ltd, the Indian subsidiary of Siemens AG, has recently announced the demerger of its energy business into a separate entity called Siemens Energy India Limited. This entity will focus on energy technology to support a more sustainable future. The demerger and listing process are expected to be completed by 2025.
Siemens Energy India Limited will provide solutions across the energy value chain, including power and heat generation, transmission, and storage. Its portfolio will feature a mix of conventional and renewable energy technologies such as gas and steam turbines, hybrid power plants using hydrogen, power generators, transformers and more. By focusing on industry infrastructure mobility technology; Siemens Limited aims to offer cutting-edge solutions to its customers.
