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Spanish Firm Invests $83.3 Million In India

Wind turbine manufactuter Gamesa sees investment as opportunity to expand into emerging markets.

Spain's leading wind turbine maker Gamesa Corp. Technologica SA, plans to invest over $83.3 million through 2012 to build new wind turbine manufacturing plants in India as part of the company's strategy to expand into fast-growing markets, Gamesa said in a statement yesterday.

Madrid-based Gamesa, a global leader in wind turbine manufacturing and a top wind farm developer, already has presence in India through its subsidiary Gamesa Wind Turbines Pvt Ltd.

Responding to media reports that it may acquire a stake in Tulsi Thanti-promoted Suzlon, the Spanish turbine maker said it plans to build its own factories in India's growing wind market.

The company operates a turbine unit near Chennai, which began production about a year ago. The facility produces Gamesa G5X-850 kW wind turbines and has an annual capacity of 500 MW.

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