Gamesa to invest over EUR 90m in China

(ADPnews) - Sep 14, 2010 - Spanish wind energy company Gamesa (MCE:GAM) will invest more than EUR 90 million (USD 115.8m) in China in the 2010-2012 period, thus tripling its investments as at end-2009.
The Spanish company, by the end of 2012, will spend over EUR 130 million, up from EUR 42 million it has invested in the Asian country by 2009, Gamesa said today.
Gamesa targets to meet rising demand from the wind energy industry in China calculating that by 2011 this country will account for more than 30% of its total sales, up from 15% in 2009. Gamesa forecast annual production capacity in China at 1,500 MW in 2011.
Gamesa has started the construction of its sixth plant in China, in the province of Inner Mongolia, Gamesa Chairman Jorge Calvet said in Shanghai. The facility, to be operational in 2011, will assemble nacelles for the G8X-2 MW turbine model, and will have annual production capacity of 500 MW.
The Spanish company has another 500 MW plant under construction in Da'an, northwestern China. In addition to those two factories, Gamesa has four manufacturing plants in the province of Tianjin, northeastern China.
(EUR 1.0 = USD 1.287)

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