India advances in renewable energy, particularly wind power and solar energy (photovoltaic and concentrated solar thermal power). Gamesa sold this year 700 wind turbines in India for wind farm projects
In the previous two years, 2010 and 2011, Gamesa Wind Turbines Pvt Ltd sold 1,000 wind turbines. Now Gamesa Wind Turbins Pvt Ltd started to build up new factories in the southern city of Chennai and two facilities in the western city of Vadodara to tap the growing demand for electricity in the south asian nation. In these factories wind turbines will be manufactured.The projects will cost the company around INR2.o billion, which is $37,5.
India is a key emerging market for Gamesa, Europe's second-largest wind-turbine manufacturer by market value after Vestas Wind Systems A/S (VWDRY), as it is facing a slump in demand in its traditional markets of the U.S. and Western Europe which are hurt by an economic slowdown.
Gamesa sold 8% of its wind turbines in Spain last year, compared with 39% three years earlier. Its largest markets now are China and India.
The country's installed renewable-energy capacity is about 24 GW and the government aims to increase it to 50 GW by 2020. India is an important Gamesa wind farm market, which currently sells all its wind turbines outside Spain. Last year it accounted for 19 percent of the megawatts sold by the Spanish wind power group.