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Gamesa of Spain strikes $2 billion deal with Caparo Energy

Special Correspondent
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Ravi Kailas (left), Chief Executive Officer, Caparo Energy India, with Ramesh Kymal, Chairman and Managing Director, Gamesa Wind Turbines, addressing presspersons in Mumbai on Tuesday.— PHOTO: SPECIAL ARRANGEMENT
Ravi Kailas (left), Chief Executive Officer, Caparo Energy India, with Ramesh Kymal, Chairman and Managing Director, Gamesa Wind Turbines, addressing presspersons in Mumbai on Tuesday.— PHOTO: SPECIAL ARRANGEMENT

Gamesa Wind Turbines, the Indian subsidiary of Spanish wind turbine giant, Gamesa, announced on Tuesday the signing of an order with Caparo Energy India (CEIL) for the supply, erection and commissioning of 2,000 MW of turbine capacity for wind power projects to be set up in India.

Ramesh Kymal, Chairman & Managing Director of Gamesa in India, said the deal size was $2 billion for setting up 2,000 MW power projects. “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. Gamesa is glad to bring to India its vast experience in the wind energy space and thus play a major role in defining the country's energy future,” Mr. Kymal said. This contract entails supply, erection and commissioning of turbines (Gamesa G58-850 kW and Gamesa G97- 2 MW) for 2,000 MW over the next five years, starting with around 150 MW in the first phase of the agreement commencing in 2012. The agreement is part of Caparo Energy's long-term strategy to secure its supply of turbines at a preferential pricing. Deliveries, under this agreement, are expected to be completed by 2016.

This agreement will be serviced from Gamesa's new capacities that are coming up in India where G97-2.0 MW turbines and blades will be manufactured.

Ravi Kailas, Chief Executive Officer, Caparo Energy India said, “This is an important relationship with a strong and committed partner that will help us move into the next phase of our wind farm development and roll out in India..”

In India, Gamesa has announced capex of over 60 million euro through 2012 in setting up a blade plant in Gujarat in 2011 with an initial capacity of up to 300 MW and installing new plants to manufacture nacelles and towers (Nacelles sit on top of the tower and contain main technical parts of the wind turbine) in Gujarat and Tamil Nadu. Technology centres were opened in Virginia, India and Singapore (advanced materials) with plans to open two more technology centres later in 2011, creating a network of 10 R&D offices worldwide.

Caparo Energy (India) is a wholly-owned subsidiary of Caparo Energy which is listed on AIM, a market of the London Stock Exchange.

To supply, erect and commission

2,000 MW of wind turbines in India


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