New Delhi, September 7, 2026 (Yes Punjab News)
Saudi Arabia-based Alfanar Group is set to invest $100 million in its Indian wind turbine manufacturing subsidiary Senvion, with the fresh capital aimed at strengthening product development and accelerating the company’s global expansion, according to a report.
Senvion said the first tranche of $34 million was released this month, while the remaining amount is expected to be transferred within the next few weeks, Arabian Gulf Business Insight reported.
The investment will support Senvion’s long-term product development roadmap, accelerate its international expansion and strengthen its project pipeline.
Alfanar acquired Senvion in 2021 from Germany’s Senvion GmbH and has since positioned the Indian wind turbine manufacturer as an important component of its renewable energy strategy.
“India is central to Alfanar Group’s renewable energy strategy and Senvion is a key part of our long-term vision for wind energy,” said Jamal Wadi, chairman of Senvion and president of Alfanar Projects.
Senvion currently has an annual manufacturing capacity of 1.5 GW, while its operational fleet has crossed 1.6 GW. The fresh investment is expected to enhance the company’s capacity to develop new turbine technologies and pursue opportunities in India and international markets.
The investment comes as India’s wind energy sector continues to expand. According to data from the Ministry of New and Renewable Energy, India’s installed wind power capacity has crossed 58 GW, compared with around 21 GW in 2014.
India has set a target of 500 GW of installed non-fossil electricity capacity by 2030, creating opportunities for renewable energy equipment manufacturers.
Saudi Arabia is also expanding its renewable energy ambitions under its Vision 2030 strategy. The country’s renewable energy capacity has doubled annually since 2020, reaching 12.3 GW last year.
However, the current capacity remains below one-tenth of Saudi Arabia’s ambitious target of 130 GW by 2030.
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