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TPG and MAVCO have completed the acquisition of Siemens Gamesa’s onshore wind business in India and Sri Lanka, leading to the creation of a new independent platform called Vayona Energy. This marks a significant development for the renewable energy sector in South Asia as the new entity aims to accelerate the transition to clean and sustainable power across the region. The deal was led by TPG, a global alternative asset management firm, along with MAVCO, a private company linked to select members of the Murugappa family. Following the completion of the acquisition, the newly formed company has officially introduced its new identity, Vayona Energy.
Vayona Energy positions itself as a leading wind turbine Original Equipment Manufacturer in India and South Asia, committed to advancing green energy adoption. The company begins operations with a strong industrial base inherited from Siemens Gamesa and a robust workforce of nearly 1,000 professionals. It also enters the market with an impressive portfolio of more than 12 GW of operational and development wind energy assets. With an initial customer order book exceeding 1 gigawatt and an operations and maintenance portfolio of over 8 gigawatts, Vayona Energy is set to play a major role in scaling onshore wind projects.
Leadership for the new company includes the appointment of Mr. Vellayan Subbiah as Chairman and Prashant Jain as Executive Vice Chairman. Their combined experience and leadership focus on addressing the increasing demand for clean power in India and South Asia. Speaking about the launch, Prashant Jain expressed excitement for the future of Vayona Energy. He noted that India, the world’s third-largest energy consumer, is a fast-growing renewable energy hub with vast opportunities for deployment at scale. He emphasized that strategic partnerships with TPG and MAVCO, along with continued collaboration with Siemens Energy, will help Vayona deliver innovation and support local communities through expanded wind energy solutions.
Chairman Vellayan Subbiah highlighted that the global shift toward clean energy presents one of the most important opportunities of this generation. He stated that Vayona Energy will aim to produce high-quality, Made-in-India wind turbines and components, focusing on global standards and cost efficiency to provide maximum value for customers. Ankur Thadani, Partner at TPG and Head of Climate for Asia, expressed pride in completing the transaction and noted that TPG is well-positioned to help Vayona scale impactful renewable energy solutions. He said that the company’s experienced teams and proven technology will help strengthen customer relationships, improve operational efficiency, and expand high-impact projects.
Siemens Energy will continue to play a role through ongoing technology collaboration and support as a strategic shareholder. Vinod Philip, a Board Member of Siemens Energy, stated that India remains a key growth market for wind energy and that Vayona Energy’s stronger local focus will enable greater value creation for customers and the renewable ecosystem. The formation of Vayona Energy follows the strategic partnership announced in March 2025 between TPG, Siemens Gamesa, MAVCO, and Prashant Jain to create a dedicated platform for onshore wind in India and the South Asia region. TPG’s investment was routed through TPG Rise Climate and represents the first investment from its Global South Initiative, developed in partnership with ALTÉRRA to scale climate solutions in developing markets. By combining capital, manufacturing capability, technology, and local partnerships, Vayona Energy begins its journey with a strong foundation aimed at supporting India’s accelerating clean energy transition.
