Saudi Arabia's Alfanar acquires Senvion India

Saudi Arabia-based Alfanar has completed 100 percent acquisition of wind turbine maker Senvion India; in what the company described as a move to "strengthen its competitive position" in India.

"Alfanar’s investment in Senvion India is a start towards the goal to be a major player in the Indian energy sector through its services in the fields of renewable energy and grid substations," said Jamal Wadi, MD of GREDHCL and President of Alfanar’s Energy & Renewable business in a statement.

Senvion India is an operational wind power Original Equipment Manufacturer (OEM) company in India, with already localised percentage of its turbines in the country. Through Alfanar's acquisition, Senvion India will provide full EPC (engineering, procurement, and construction) and O&M (operations and maintenance) solutions for wind power projects to customers in India, the companies said in the statement.