Gamesa re-enters solar biz, bags 10 MW EPC contract in India

National » Solar

Global wind major Gamesa today announced its entry into the solar market with a 10 MW order.

The company has bagged orders from three textile companies to set up grid-connected solar turnkey EPC, which is to be commissioned by September 2015.

Gamesa, which had exited the solar business globally in 2004, is planning to manufacture inverters in India but has ruled out manufacturing solar PVs in India.

“We will have vendors who will manufacture according to our specifications,” said Ramesh Kymal, chairman and managing director, Gamesa India, adding that it is in talks with companies in Singapore, Norway and Taiwan for the same.

Currently, the company has three facilities in India – two in Chennai and one in Gujarat.

K V Sanjay, EVP- Solar Business Unit, Gamesa said the company will focus on PV module, inverters, O&M asset management and BoS and Projects execution.

The leading player in wind turbine manufacturing, with a market share of 32% according to BTM, Gamesa India has set a target of 1000 Mw for fiscal 2016.

The company has invested around Rs 700 crore in India in the last 4-5 years and plans to invest Rs 700-800 crore in the wind business alone in the next 3-4 years.

Currently, 26% of Gamesa’s total global turnover comes from India and the company plans to take it to 30%.

Source: Business Standard

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