Sri KPR Industries Siemens Gamesa Settlement Talks Fail

Background and Chronology of Events

• Initial incident: Collapse of 2MW Wind Turbine Generator (WTG) located in Madhya Pradesh (disclosed 18.05.2023)
• Legal notice issued to counterparty (disclosed 31.05.2023)
• Petition filed in Hon'ble Court of Madras at Chennai (disclosed 23.07.2024)
• Appointment of Arbitrator by Hon'ble High Court of Madras at Chennai on behalf of M/s. Siemens Gamesa Renewable Private Limited (disclosed 24.12.2024)
• Case pending before Hon'ble Tribunal (disclosed 16.05.2025)

Current Status Update

During June 2026, while arbitration proceedings were ongoing, Siemens Gamesa Renewable Private Limited initiated discussions and negotiations to resolve the issue amicably. Despite several rounds of discussions, the proposed settlement could not be resolved. The company now intends to return to the Hon'ble Arbitral Tribunal for continuation of the arbitration proceedings.