{"id":88268,"date":"2024-11-27T00:00:00","date_gmt":"2024-11-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/11\/27\/tpg-is-reportedly-a-frontrunner-to-snap-up-siemens-gamesa-assets\/"},"modified":"2024-11-27T00:00:00","modified_gmt":"2024-11-27T00:00:00","slug":"tpg-is-reportedly-a-frontrunner-to-snap-up-siemens-gamesa-assets","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/11\/27\/tpg-is-reportedly-a-frontrunner-to-snap-up-siemens-gamesa-assets\/","title":{"rendered":"TPG is reportedly a frontrunner to snap up Siemens\u2019 Gamesa assets"},"content":{"rendered":"

US-based private equity firm TPG is reportedly \u201cfar along\u201d in talks with <\/strong>Siemens Energy to purchase the wind energy assets of its Gamesa unit<\/strong>, Bloomberg<\/a> reports, citing sources with knowledge of the matter. TPG is the frontrunner out of several other bidders, offering a possible sum exceeding USD 300 mn, but the rest \u2014 including the likes of JSW Energy and Inox Wind \u2014 are not out of the running just yet. Siemens is considering \u201call options,\u201d including \u201cpotential partnerships,\u201d a spokesperson for Siemens said. The assets include operation, maintenance, and manufacturing projects. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Gamesa is going through a major overhaul: <\/strong>Siemens will lay off around 15%<\/a> (4.1k jobs) of its wind turbine division Siemens Gamesa in an attempt to \u201cadapt to lower business volumes, reduced activity in non-core markets, and a streamlined portfolio,\u201d CEO Jochen Eickholt said in an internal letter to staff in May. The company took a big hit<\/a> in 2023 after it found a \u201csubstantial increase in failure rates of wind turbine components.\u201d The technical issue identified affected 15-30% of the more than 132 GW worth of turbines used in wind plants worldwide, costing the company an estimated EUR 1 bn. <\/p>\n

\n

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Indian state mulls pause on business with Adani: <\/strong>India\u2019s Andhra Pradesh State is considering the suspension of power purchase agreements tied to Adani Group on the back of a US indictment<\/a> of its founder Gautam Adani for alleged bribes linked to its renewable projects, Reuters<\/a> reports, citing government sources with knowledge of the matter. The state is turning to the Solar Energy Corporation of India to investigate the charges against the company and would be the first Indian state to take such action. The suspension is expected to be announced \u201cvery soon,\u201d a government source told Reuters. <\/p>\n","protected":false},"excerpt":{"rendered":"

The wind unit of Siemens took a big hit in 2023 and is planning to lay off 15% of its workforce<\/p>\n","protected":false},"author":1,"featured_media":88269,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,11,542,46],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-enterpriseclimate","tag-siemens","tag-wind-energy","wpautop","entry"],"acf":{"mongo_id":"8bc6e000-b856-472f-82db-1064f2696725","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1222.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TPG is reportedly a frontrunner to snap up Siemens\u2019 Gamesa assets","related_issue":[88254],"teaser":"The wind unit of Siemens took a big hit in 2023 and is planning to lay off 15% of its workforce","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.015c3ba4-cfb6-4980-a54d-6c5ff69b8c75.mp3"},"yoast_head":"\nTPG is reportedly a frontrunner to snap up Siemens\u2019 Gamesa assets - 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