Gamesa to double India capacity with Rs 500-Cr investment

MUMBAI: Spain’s Gamesa Corporacion Tecnologica is doubling its wind turbine manufacturing capacity in India at an investment of Rs 500 crore, foreseeing higher demand for renewable energy in the country. The company has also denied being interested in a stake in Suzlon Energy, India’s largest wind-turbine maker. Gamesa , one of the world's largest wind-turbine manufacturers, plans to raise capacity in India to 1,000 mw by September.

“Within the first year of our operations, India contributed 5% of our overall sales. And we want this to touch 25% within the next two-three years,” Gamesa Group’s Chairman and Chief Executive Jorge Calvet Spinatsch told reporters in Mumbai on Wednesday. In India, Gamesa’s main competitor for the wind energy market is Suzlon Energy. On speculation that the company may be eyeing a stake in Suzlon, Calvet said, “I have seen, I have read and I have heard those rumours. But there is nothing behind those rumours.”

Gamesa’s Indian arm, Gamesa Wind Turbine Private, reported sales of Rs 1,000 crore last year. The company also plans to make India the hub for exports to south Asia and parts of Africa, Gamesa officials said. Gamesa has a wind turbine manufacturing facility in Chennai with an annual output of 500 mw. It plans to set up new facilities for making turbines of 2 mw. These include a blade manufacturing unit in Gujarat and a tower unit in Tamil Nadu in a joint venture with Windar Renovables.

Calvet expects the company’s Indian arm to sell 500-800 mw of equipment every year for the next few years. The company is also keen on taking up projects for upgradation and rehabilitation of existing wind farms to increase output in the country. India’s installed wind energy capacity is 12,000 mw.