Gamesa re-enters solar business; bags 10MW contract in India

CHENNAI: Re-entering the solar business, Spain-based wind turbine manufacturer Gamesa today said it has bagged an order to install a 10MW plant in Tamil Nadu.

The company would offer solar based EPC (engineering, procurement and construction) solutions for projects under the solar energy besides expanding inverter business, Gamesa India Chairman and Managing Director Ramesh Kymal said.

“We have harnessed only 3.8 GW of solar power when we actually have tremendous opportunity to harness what is remaining of the 750GW (of solar energy) the country has to offer. We are globally renowned for our expertise and technical prowess in harnessing both sun and wind and hence our foray into solar (energy)”, Kymal said.

Gamesa had first entered solar business in 2005 but later sold the division — Gamesa Solar — to a private equity firm First Reserve Corporation for a total value of Euro 261 million.

Gamesa Solar had achieved revenues of Euro 200 million and had over 100 employees in 2007.

According to consultancy firm BTM Consult, Gamesa India has 32 per cent market share in wind sector and it has set a target of 1,000MW in fiscal year 2016.

 

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