Centerbridge to back Senvion R&D
Sustained investment ‘will keep German turbine supplier at cutting edge’
Private equity firm Centerbridge Partners will continue to bankroll innovation at Senvion after acquiring the German wind turbine supplier from Suzlon.
The investor, which agreed to buy Senvion for €1bn this morning, has committed to maintaining research and development expenditure for the foreseeable future.
A spokesperson for Senvion in Hamburg told reNEWS: “Senvion is a technology leader and Centerbridge intends to continue to keep the company on the leading edge.
“The acquisition by Centerbridge is no reason to change anything regarding our product or technical concept. Centerbridge has experience in the energy sector and know you need continued investments to be on the leading edge of technology.”
Staff numbers will not be affected by the acquisition and Senvion will continue “to invest heavily every year in existing and new products” including its capital-intensive offshore division. “Senvion is a product pioneer in the 3MW turbine segment as well as offshore wind,” the spokesperson added.
The spokesperson said there are still “some open questions” around parts of the deal, such as the “potential” licencing agreement whereby Suzlon would sell Senvion’s offshore turbines in India. In return, Suzlon would give Senvion the S111-2.1MW licence for the USA market, although “Senvion offers its MM series for the US market,” the Senvion spokesperson said.
Image: Senvion turbines at the Thornton Bank offshore wind farm (Senvion SE and Jan Oelker)