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The turbine manufacturer is "geared up" for growth in new markets following the IPO, said Senvion's new chief executive, Jurgen Geissinger. The company intends to grow its addressable market by 60% in terms of capacity.

The IPO is planned for the first half of 2016, but the specific date is still dependent on market conditions, the company said.

The exact amount to be sold on the stock exchange has also not been decided, but owners Centerbridge would remain a majority shareholder "for the time being", Geissinger said.

The IPO will increase transparency and visibility of the company as it moves into emerging markets, he said.

"Following the acquisition by Centerbridge, Senvion has regained momentum. Under Suzlon, Senvion was constrained to the European, US and Canadian markets," Geissinger said but the US private equity firm allowed the manufacturer to be more flexible.

Centerbridge acquired Senvion from Indian OEM Suzlon in January 2015 in a €1 billion cash deal.

Geissinger named Peru, Chile and Mexico as the next targets for Senvion's global expansion. These are "very promising "markets and Senvion's products will be a good fit, he said.

Senvion's focus on low-wind and emerging wind markets is also fueled by the COP21 agreement signed in Paris. Geissinger said "business was strong" in these new markets following the climate deal.

The announcement came the same day Senvion began operations of its Indian subsidiary. Senvion India will be lead by former Vestas country manager Amit Kansal.

To aid the global expansion, Geissinger said there had been a greater focus on low-wind technology and its research and development budget had been increased.

Senvion launched a new low-wind 3.4MW turbine at the Husum Wind 2015 event in September 2015.

Tag(s) : #Renewable Energy
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