Tuesday, May 17, 2011

Gamesa gets $2 Billion USD order for 2000 MWs of wind projects in India

Gamesa Wind Turbines Pvt., the Indian unit of Spain's Gamesa Corporacion Tecnologica SA Tuesday received an order valued at $2 billion USD from the local unit of Caparo Energy Ltd. to build 2000 MW of wind power projects in India.

The first phase of the project of about 150 MW will be commissioned by 2012 and the final phase is expected to be completed by 2016.

Global wind energy majors such as Gamesa and Suzlon have turned to fast-growing economies where rising energy requirement is fueling investments in renewables. In India, high fuel prices and the nuclear crisis in Japan earlier this year have reignited interest in renewable energy sources.

"This order underlines the acceptance of wind energy as a viable and profitable solution to meet the increasing appetite among corporates for reducing their carbon footprint and meeting energy needs through sustainable energy sources," said Ramesh Kymal, chairman and managing director of Gamesa in India.

India had wind power capacity of more than 13000 MW as of March 31, 2010, according to the country's renewable energy ministry. India is the world's fifth-largest wind energy producer.

The Global Wind Energy Council, an industry body, expects that by 2020 the South Asian country would have total wind power capacity of at least 46000 MW and up to 65000 MW.

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