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Gamesa’s market share in India wind market rises to 10% in 18 months

Wind energy has witnessed a lot of activity in recent times in India. Panchabuta, has earlier talked about the  Generation Based Incentives (GBI) scheme for grid connected wind power projects with the objective of broadening the investors base by attracting FDI and independent power producers.

Spanish wind turbine manufacturer Gamesa announced plans to expand its presence in India by putting up three more facilities that will make various parts for the wind turbines. The company had announced an investment of about Rs 500 crore in units that will make blades, towers and nacelles the report further added.

The units to make blades and towers is to come up near Vadodara in Gujarat, and the one that will make nacelles near Chennai. Apart from the investment in these plants, Gamesa will also invest in building a land bank for wind energy projects. The blade factory and the unit that will fabricate the towers, which will be through a joint venture, will be ready by September and the nacelle unit by the first quarter of 2012.

In 2010, Gamesa installed about 140 MW – it sells 850 kW turbines – and hopes to sell more than three times that number, about 500 MW, in 2011 the company said.

According to reports, Spanish wind turbine maker Gamesa said net profit surged 67 percent in the first quarter as the group’s diversification into markets like China and India paid off with an uptick in sales.

Net profit rose to 13 million euros ($18.45 million), beating the average forecast of 10 million in a Reuters poll of eight analysts. Sales increased 24 percent, compared with a forecast 18percent growth, and for the first time were completely outside Spain. The highest growth was in traditionally low-margin markets like China and India.

Gamesa says for the first time, all sales were from outside Spain with Europe (excluding Spain) accounted for 27%; India 24%, China 13%, US 8% and ROW 28%.

Gamesa now has a 10% market share in India after only 18 months’ presence. Significant progress has also been made in Latin America.

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