Siemens Gamesa To Sell India Unit, Iberdrola Acquires Avangrid, Auren Merges with AES Brazil

Allen Hall, Philip Totaro, and Joel Saxum discuss the sale of Siemens Gamesa's India Wind Turbine unit, Iberdrola's acquisition of remaining Avangrid shares, and Auren Energy's merger with AES Brazil Energy. Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us! Pardalote Consulting - https://www.pardaloteconsulting.comWeather Guard Lightning Tech - www.weatherguardwind.comIntelstor - https://www.intelstor.com Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Tech, and I'm here with the founder and CEO of IntelStor, Phil Totaro, and the chief commercial officer of Weather Guard, Joel Saxum. And this is your News Flash. News Flash is brought to you by our friends at IntelStor. If you want market intelligence that generates revenue, and who doesn't? Then book a demonstration of Intastore at intelstor.com. Siemens Energy has put the India Wind Turbine unit of its subsidiary, Siemens Gamesa Renewable Energy, up for sale. The India business has an annual revenue of 700 million and is being valued at 1. 5 billion. 1 billion for the transaction. Siemens has appointed Investment Bank Barclays to find buyers with Adani Renewable Energy, TPG Rise, Brookfield Energy, Transition Funds, Macquarie, and Masdar being sounded out. Siemens Gamesa has reported poor results over the last few years and has been working on a turnaround, of course, aiming to break even in 2021. 2026. Phil, how does this fit into the overall strategies for Siemens Gamesa with this India sale? Philip Totaro: It's interesting because they have said that they're still interested in doing something in the Indian market and it sounds like they want to continue servicing some of the projects in India, but the fact that they would put You know, whatever other assets they have up for sale, potentially inclusive of their their order book, so to speak with sales and services is quite fascinating for companies like, INOX and Adani Group, who it sounds like is the the leader of this charge to potentially acquire. These assets, it would actually be a pretty good fit for Adani because they don't necessarily need the Siemens turban technology but they would want the manufacturing facilities and certainly some of the services order book that, that they could acquire through this. Joel Saxum: And would it be smart for a competing OEM to try to scoop this up just to get a peek at some of the. IP. Now I'm not saying the IP is going with it because of course you're not going to sell that. But if you're going to get the services portfolio, you've got to get every in depth piece of schematic and all these other things with it. So my question would be then what's all going to go with this sale, right? You're going to have, you may have the services order book crate contracts for service. There's a, because we all know there's a lot of G 97 G one fourteens. There's a ton of two megawatt ish machines that are Siemens Mesa in, right? India. So you get that, you may get some manufacturing facilities and other things, but it's really a confusing sale to me, but just because I don't understand. What the value of Siemens Gamesit to me is the turbine IP, but you're not getting any of that. You're just getting this like commercial and services side. Am I correct or am I seeing something incorrect here? Philip Totaro: No you're correct. The value would be different to different companies. So let's, if we go through the list of, the companies Allen just rattled off, you look at Brookfield the reason that they would be interested in this is purely for the services side of the business,