Spain’s largest wind power equipment maker Gamesa Corporación Tecnológica SA, has appointed investment bank Morgan Stanley India Co. Pvt. Ltd to scout for wind power assets in India. Neither Morgan Stanley nor Gamesa India is confirming this.
Wind Power growth in India is important for Gamesa and it has a manufacturing base in Chennai.
Many companies from Spain and Germany are looking at expansions in India. Games and others may pick up some existing Indian wind companies. It was rumored that Suzlon may also sell some stake.
Last week, Suzlon won an order from Caparo Energy Ltd to develop a 1,000MW wind power plant. Earlier in January it won an order for a 150MW plant for Hindustan Zinc Ltd, India, a company owned by London-listed Vedanta Resources Plc, and a 218MW plant for Martifer Renováveis Geração de Energia e Participações SA, a Brazilian company. The orders swelled its order book to $6 billion.
Gamesa is hoping the US market will account for 25% of the orders it receives between 2011 and 2013, and China, 32%. It is looking to increase capacities in key emerging markets, including India, and wants to start manufacturing locally to reduce costs.
Exclusive: Gamesa in talks to take over India's Suzlon
Spain’s Gamesa is looking to buy a majority stake in Indian turbine manufacturer Suzlon, well-connected market sources tell Recharge. Talks between the two companies are ongoing, but no agreement has been reached.
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