<div id="readability-page-1"><div><p>Bankrupt wind turbine manufacturer TPI Composites has chosen Danish company Vestas as the buyer of parts of its assets, including ownership of Mexican subsidiaries and property in the US and India.</p><p>The announcement came after a planned auction was canceled when no other approved bids were submitted. This is according to documents submitted to a bankruptcy court in Texas dated December 12, reports Bloomberg Law.</p><p>The sale process for TPI's remaining assets will continue separately. The sale requires approval by the bankruptcy court. </p><p>Vestas is one of TPI's two largest customers in the wind power industry, along with GE Vernova, and according to court documents, accounted for approximately 35 percent of the company's total net sales in 2024.</p></div></div>

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<p>Vestas has acquired assets from bankrupt TPI Composites, including Mexican subsidiaries and properties in the US and India. The auction was canceled due to lack of bids, and the sale requires bankruptcy court approval. Vestas, a major customer of TPI, accounted for 35% of TPI's net sales in 2024. The sale process for remaining assets continues.</p>

Vestas buys assets from bankrupt TPI Composites