Spanish Firm Invests $83.3 Million In India

March 10, 2011
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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