Suzlon Group, one of India’s biggest renewable energy solutions companies, announced on August 6 that it plans to buy a 76% stake in Renom Energy Services Private Limited from the Sanjay Ghodawat Group (SGG). The deal will be completed in two parts.
In the first step, Suzlon will acquire a 51% stake in Renom for Rs 400 crore. In the second step, Suzlon will buy another 25% stake within 18 months for Rs 260 crore. Renom is India’s largest Multi Brand Operations and Maintenance Service (MBOMS) provider, managing assets of 1,782 MW in wind power, 148 MW in solar power, and 572 MW in BOP across various customer segments.
Suzlon believes this acquisition will strengthen Renom’s potential, helping it become a leading Independent Service Provider (ISP) in renewable energy. The deal will also allow Renom to target over 32 GW of non-Suzlon wind energy assets in India.
Girish Tanti, Vice Chairman of Suzlon Group, said, “With India aiming to reach 500 GW of renewable energy by 2030, we’ll see different technologies and wind turbines in the market. Renom is a major player in this field and is well-positioned to grow further. This acquisition fits with Suzlon Group’s vision of expanding while protecting India’s renewable energy assets.”
Suzlon noted that the transaction’s completion is subject to meeting certain conditions. Established in 1995, Suzlon has become a key player in the global wind energy market, providing innovative and sustainable energy solutions. The company designs, manufactures, and maintains wind turbine generators for various applications, emphasizing efficiency and sustainability.
With a robust presence in over 18 countries, Suzlon has installed more than 19,000 MW of wind energy capacity worldwide. The company focuses on delivering comprehensive renewable energy services, from manufacturing to maintenance, and is committed to advancing India’s renewable energy targets. Through continuous innovation and strategic acquisitions, Suzlon aims to enhance its portfolio and expand its reach, contributing significantly to the global shift towards clean energy.
