This week on News Flash, Denker Wulf and Energie Engineering Nord are merging, Tata Power partners with the Asian Development Bank for $4.25 billion in clean energy projects, and TPG is considering buying Siemens Gamesa India assets.

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Welcome to Uptime News Flash. Industry news lightning fast. Your hosts, Alan Hall, Joel Saxum, and Phil Totaro discuss the latest deals, mergers, and alliances that will shape the future of wind power. News Flash is brought to you by IntelStor. For market intelligence that generates revenue, visit www.intelstor. com.

Allen Hall: Well, Phil, Tata Power has signed a 4. 25 billion memorandum of understanding with the Asian Development Bank for clean energy projects. And the agreement was signed during the ongoing COP 29 conference in Baku, Azerbaijan. The key initiatives coming out Out of this include a 966 megawatt solar wind hybrid project and a pump hydro storage project.

Now the partnership will support India's target of 500 gigawatt renewable energy capacity by 2030. This is really important, Phil, because Tata plays a significant role in that. A role in India's economy.

Philip Totaro: And not just in renewable energy project development and asset ownership and operations.

Obviously they've got automotive, they've got steel making, they do any number of things. They're a pretty diversified industrial company. And what actually a lot of people may not know is Tata Power is actually one of the top five asset owners and operators of renewable energy assets in India already.

So getting an additional, MOU signed for, for 4. 25 billion is, is not going to hurt. But keep in mind, they also have broader ambitions outside of India. They, they signed an agreement with a company in Bhutan recently to do a five gigawatt renewable project there. They've had ambition in Sri Lanka and, other kind of regional markets within the Asia Pacific region there that it gives them, they've been kind of quietly going about, spreading their influence.

And I, again, I think this is a fantastic move for them and, and to be able to get this Asian Development Bank agreement in place, I think is, if they get 100 percent of that, that money that they're, they're talking about in this MOU, that, that's really gonna help push Tata Power forward.

Allen Hall: Well, staying in India, TPG is in advanced talks to acquire the Siemens Gamesa Indian assets.

And that deal could, well, it's valued at more than 300 million currently. Now, TPG has emerged as a front runner after outbidding industry players and a number of private equity firms. And Phil, this is a valuable asset. I know a number of companies in India were really shooting for this Siemens Gamesa business.

Thank you very much. But TPG has really rocketed to the top.

Philip Totaro: Yeah, and it's, it's fascinating because I wouldn't actually have expected private equity to win this one. Mainly because the, what Siemens is, is really offering in terms of their asset portfolio in, in India is their manufacturing facilities.

Any operations and maintenance agreements that they have and, and that entire side of the business, I would have thought that, They would have either split off that side of the business. Maybe the Chinese were going to come in and take over the factory space. So this is,