Gamesa to invest €100 m in Indian wind sector in 5 years

Gamesa plans to produce 700MW of wind energy in India this year, with an aim to invest more in offshore business, reports Hindu Business Line.

Last year, Gamesa India, the local arm of the Spanish multinational, topped the list of wind turbines sellers in the country.

The 700MW 2014 figure will be an increase from 400MW in 2013. Gamesa hopes to have double-digit growth for each of the next five years in what has become one of the company’s key markets, stated, Ignacio Martin, executive chairman, Gamesa.

The wind group expects to invest more than €100m in India over that period as it grows its manufacturing base there, Martin is quoted saying.

Ignacio-Martin-Gamesa_web

While this is about onshore farms, company also has expectations for offshore business in India, with a better product line-up for offshore, he added.

It is to be noted that, few weeks ago India confirmed plans for its first sea-based development, a 100 MW pilot project off the coast of Gujarat. Currently, Gamesa is finalizing a joint venture in offshore wind with Areva of France.

Martin told the Hindu Business Line that manufacturing expansion is followed by supply-chain development and adding to its development land-bank as its main priorities in the Indian market.

It does not have the backing of major state-owned banks like its Chinese competitors and the company is in a position to seek project partners.

The Gamesa chairman claimed themselves as market leader in India, with Suzlon being the next tough competitor.

Gamesa hopes to achieve 85-90 percent local content over the next three to four years, which is now valued at 74 percent.

Gamesa will launch G114 turbine with longer blades in the final quarter of 2015 and will be their key machine for the next three to four years. An increased tower height of up to 110-metres is also under consideration for the Indian market, added Martin.

Sabeena Wahid
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