Some 84 percent of Senvion's sales come from onshore wind turbines. It is also the world's third-largest maker of offshore wind turbines, behind Siemens and MHI Vestas, a joint venture between Japan's Mitsubishi Heavy Industries and Denmark's Vestas.
Aiming to cut costs by increasing global scale, Senvion's local rival Nordex earlier this year took over the wind turbines business of Spain's Acciona, while Siemens and Gamesa are forging the industry's largest player.
"Big tie-ups need to pay off. At the moment, I don't see any product offering that would cause us to take such a step," Juergen Geissinger, Senvion's chief executive since last December, told Reuters at a wind power industry conference.
"Smaller acquisitions, like the one we recently did in India, are always on our mind though."
Senvion, which listed its shares in March, last month announced the purchase of the Indian wind power business Kenersys India Private Ltd, including a production facility of about 250 megawatts (MW), to take it into one of the industry's most promising markets.
"The Indian market has an annual volume of 4-5 gigawatts (GW). That makes it bigger than Germany," said Geissinger, who was chief executive of German car parts maker Schaeffler until 2013.
He said Senvion also hoped to benefit from an expected surge in orders in the United States in the fourth quarter, as wind farm developers seek to take advantage of key tax credits before they are phased out next year.
Senvion already has 1 GW of installed capacity in the United States but no local production. "Whether we will set up local production obviously depends on order backlog. That starts to make sense from about 1 GW."
Geissinger also reaffirmed Senvion's forecast for sales this year of 2.25-2.3 billion euros ($2.52-2.57 billion) and an adjusted margin on earnings before interest, tax, depreciation and amortisation of about 9.5 percent.
Senvion being one of the top company in wind sector. They are not planning now to be more agressive in acquisition. I think they are learning from big firm like sunedision which failed miserably. Wind segment in India is now at backfoot as the new story is now solar. However still in renewable energy in India,the wind power sttill holds first place.