Senvion India, the fifth-largest wind turbine manufacturer in India, aims to double its production capacity to 2 gigawatts by 2026 and invest Rs 8.4 billion in research and development for new technologies. The Mumbai-based firm also plans to expand its footprint in the European Union and Saudi Arabia, according to CEO Amit Kansal. Kansal highlighted that to compete effectively in these markets, the company must develop 6-8 megawatt (MW) turbines, and Senvion India has committed over $100 million toward R&D and supply chain enhancements over the next two years.

Recently, Senvion India introduced a 4.2 MW wind turbine, marking the first 4 MW turbine designed in collaboration with RE Technologies, a German R&D firm with which it holds an exclusive licensing agreement. As it works to scale capacity to 2 GW, Senvion India is also targeting select international markets to address growing demand.

Initially entering the Indian market in 2016, German wind turbine maker Senvion declared bankruptcy in 2019. The company was subsequently acquired by Alfanar’s Global Renewable Energy Development Holding Company Ltd (GREDHCL) in 2021. Now debt-free and profitable, Senvion India has achieved a topline of over Rs 25 billion. It holds a 2% market share of India’s total commissioned capacity, behind competitors like Envision (41%), Suzlon (20%), Inox Wind (15%), and Adani Wind (7%). Currently, Senvion India is fulfilling orders totaling 800 MW.

(ET)