Industry

Wind turbine maker Gamesa plans solar investment in India

  A screen grab of Gamesa website.

A screen grab of Gamesa website.

Paris: Spanish wind turbine maker Gamesa is seeing booming sales in emerging markets, expects double-digit sales growth through 2017 and plans investments in solar and off-grid power generation in India, its chairman said.

Gamesa has taken in orders close to 3,000 megawatts in the first nine months of the year and is on track to meet its target of selling 3,100 MW worth of capacity this year and 3,500-3,800 MW in 2017, Ignacio Martin said.

“With this order intake, which is not only for 2016 but also for 2017 and beyond that, we expect we will be fully in line with our 2017 guidance,” Martin told Reuters at the EWEA wind industry conference in Paris.

“Our earnings are in line with our expectations,” he added. The company said in June it expects earnings before interest and taxes to double by 2017.

Martin said sales in emerging markets are booming. In India, where Gamesa started activities only five to six years ago, it expects sales of around 900 MW this year, and in Brazil, where the company had no business four years ago, it expects sales of 650 MW this year. Reuters

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