core sector communique

Gamesa strengthens its growth trajectory in India

· Installations of 700+ Wind Turbine Generators within two years of setting up base in India

· Emerges as a preferred company by the PSUs, gets in principal approval from the Tamil Nadu electricity board for setting up a 400 KV substation

· Achieves a growth of 60% in sales in FY 2011-12

Mumbai, May 3, 2012: Gamesa Wind Turbines Pvt. Ltd., the Indian subsidiary of Gamesa – world leader in the design, manufacture, installation and maintenance of wind turbines, today, announced the company’s remarkable upswing in its growth trajectory. The wind turbine major has received strong acceptance from all customer groups including PSUs across key markets on track to achieve #3 rank in India. Gamesa now commands significant market share of installations in India registering a momentous sales turnover of Rs. 1600 crores, which is a growth of 60% from the last year.

Gamesa installed and commissioned more than 700 Wind Turbine Generators within 2 years of setting up base in India with an installed base of 563MW across states including, Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Rajasthan, Tamil Nadu and Madhya Pradesh. The company also has a portfolio of more than 6000MW in various stages of development in India and Sri Lanka and expects to achieve a production capacity of 1500MW by 2013 from the current 800MW.

“Gamesa India is looking ahead to the incredible potential waiting to be tapped. India’s wind potential is estimated at 3000 GW –and we have a long way to go. Harnessing this potential means providing for a clean, green future, sustainable livelihoods, and very important – energy security. As a company, we are well positioned to compete in the Indian wind markets and play our part in providing ecologically sustainable development all over the county.” said Mr. Ramesh Kymal, Chairman and Managing Director, Gamesa Wind Turbines Pvt. Ltd.

Gamesa, over the last one year has received major orders from PSUs including GAIL, NREDCAP, OIL India and has also received Tamil Nadu electricity board’s in principle approval for setting up a 400KV substation in the state showing the growing confidence in the company.

Gamesa recently expanded its product portfolio by launching the G97-2.0 MW wind turbine especially designed for low-wind sites in India which has received great reviews from the customers, investors and the Government alike. Gamesa expects such sites to drive a major portion of demand in the 2.0 MW category and has already procured orders for G97 from a number of investors including a big order from Lakshmi Machine Works Group.

After making great strides as a wind energy player, Gamesa is growing leaps and bounds with Gamesa Electric contributing its share in the new and renewable energy sector. With Gamesa Electric, the company has forayed into solar power by installing and commissioning its first on-grid 500kW TL Plus central inverters – 1MW containerized solution at ESSAR Solar Photo Voltaic Power Plant at Bhuj, in Gujarat. The company has bigger plans for Gamesa Electric in the country.

About Gamesa (www.gamesacorp.com)

With more than 17 years’ experience, Gamesa is a global technological leader in the wind industry. Its comprehensive response includes the design, manufacture, installation and maintenance of wind turbines, with more than 24,100 MW installed and 16,300 MW under maintenance.

Gamesa has 34 production facilities in Europe, the US, China, India and Brazil and 8,300 employees worldwide.

Gamesa is also a world leader in the development, construction and sale of wind farms, having installed over 5,000 MW and having a portfolio of 24,000 MW in Europe, America and Asia