TPG and MAVCO buy Siemens Gamesa wind assets, form Vayona Energy.

TPG and family-owned investor MAVCO have closed a deal for Siemens Gamesa’s onshore wind operations in India and Sri Lanka, relaunching the business as Vayona Energy. The transaction creates a locally focused wind-turbine OEM and services platform positioned to scale in South Asia.

The new group steps into the market with roughly 1,000 employees and a combined operational and development footprint of about 12GW. Management says Vayona also inherits a healthy commercial pipeline, including a customer order book above 1GW and an operations & maintenance portfolio of over 8GW, giving the business recurring revenue and immediate scale.

Leadership appointments underline the local governance strategy: Vellayan Subbiah will serve as Chairman while industry veteran Prashant Jain takes up the role of Executive Vice Chairman. Ankur Thadani, Partner and Head of Climate, Asia at TPG, signalled that the firm plans to deploy both capital and operational support to accelerate deployment across India and neighbouring markets.

The buyers intend to marry the engineering and manufacturing pedigree of the inherited assets with Indian supply-chain capabilities. In practice this means pushing for higher localisation of turbine components and tighter integration of services to reduce levelised cost of energy — a priority as India seeks to expand renewable capacity. With India among the top three global energy consumers, analysts say onshore wind still has substantial upside: installed wind capacity sits in the tens of gigawatts while policy targets and corporate renewables demand continue to rise.

Siemens Energy will remain involved as a strategic partner and minority shareholder, committing to ongoing technology collaboration. Company board member Vinod Philip characterised the arrangement as a way to sharpen the business’s local focus while leveraging Siemens’ engineering know‑how to support customers across the region.

Financial details have not been disclosed. TPG made its commitment through its climate platform, TPG Rise Climate, forming the first investment from a Global South initiative intended to scale climate solutions in emerging markets; MAVCO brings family capital and regional industrial expertise. Market watchers say the deal is representative of a broader trend: buyouts that combine global technology licenses with local industrial partners to capture growing renewable demand in Asia.

For Vayona Energy, near-term priorities include ramping manufacturing throughput, expanding the project pipeline and improving service margins across the O&M base. If executed successfully, the business could become a major local supplier for the region’s wind fleet and a recurring-revenue platform attractive to long-term infrastructure investors.