Suzlon Energy will acquire a 76% stake in Renom Energy Services for $79 million. Algonquin Power & Utilities Corp has announced the sale of its non-hydro renewables business to LS Power. Haizea Wind Group has secured a €35 million green loan from the European Investment Bank.

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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, then book a demonstration of IntelStor at intelstor.com.

Suzlon Energy will acquire a 76 percent stake in Renom Energy Services. For 660 crore rupees or approximately 79 million U. S. dollars. This move is set to strengthen Suzlan's position in the operations and maintenance sector. Renan Energy Services is currently the largest multi brand operations and maintenance service provider in India, managing assets totaling 1. 7 gigawatts in wind, 148 megawatts in solar and 572 megawatts in BOP. Phil, with the advent of G. E. Vernova and Siemens Gamesa leaving India slowly and leaving the maintenance up to other organizations, Is this a good move by Suzlon to try to fill that void?

Philip Totaro: It is. It's a very interesting move as well because of how fragmented the Indian market is, just in general, both on the OEM side and on the maintenance side.

So, as you mentioned, there's a couple of Western OEMs that are kind of pulling up stakes, and frankly, Vestas hasn't been getting the same level of sales in the past that they have in India either. With the growth of Inox Wind. And the introduction of Adani's turbine as well. So for, for Suzlon, this is an interesting move because, as you mentioned, it gives them access to a maintenance provider that is not only kind of the biggest ISP in the market, but they also have a multi brand portfolio that they are servicing, giving them access to a wide array of of different technologies.

As I mentioned, it's a fragmented market. And so the reason why there isn't. A big dominant player in operations and maintenance in the market is because you have some OEMs that are still kind of contractually obligated on certain projects, but they've pulled up stakes. Other OEMs that used to operate in the market don't anymore.

And so you've got a particularly big market opportunity for. Susan and read on to step into here. The Indian market is now, I think, 46 gigawatts of onshore wind installed and another, I want to say, 80 something gigawatts of solar at this point. So, it's a it's there's a lot more opportunity for growth in this segment.

Joel Saxum: Yeah, Allen and I actually were on a call this morning with some people from India that are a large developer over there and it seems like every time we're on a call with anybody from India, they are a large developer or they have a large pipeline. One of these, one of these pipelines was two gigawatts in the next few years.

Another one we talked to a couple weeks ago was four gigawatts in the next four years. So there's a lot of big plans for wind in India and Suzalon right now through this move is looking to capitalize on that. On ensuring or being in the position to ensure the wind energy sector in India remains strong, right?