Nov 25, 2013 - Ignacio Martin, chairman of Spanish wind turbine maker Gamesa (MCE:GAM) announced that the firm has plans to boost production activities in Brazil in order to meet the rising demand in Latin America.
The company will further expand in Brazil to benefit from the incentives provided to investors, Martin said during the investment forum Latibex.
Brazil is expected to become a hub for the export to other countries in Latin America, where there are clear plans for the growth of the energy sector, including the installation of wind farms, Martin noted.
Gamesa initiated its project to expand abroad in view of the decline of demand in southern Europe, he added.
The company currently generates 100% of its revenues outside Spain and between 50% and 60% of them in Latin America.