Wind turbine co Gamesa plans entry into solar, off-grid markets

Spanish wind turbine maker Gamesa (MCE:GAM) said Tuesday it plans to enter segments that offer “a high level of synergy” with the wind business, such as solar and off-grid, especially in India.

The company presented today its plan for 2015-2017, which will prepare it for the expansion after 2017. It targets growth both in the onshore and offshore wind segments and in the above-mentioned complementary areas.

Gamesa did not give additional details on the solar and off-grid plans, but said it targets a 20% offshore wind share in Europe by 2020 through Adwen -- the 50/50 joint venture with France’s Areva (EPA:AREVA). The entity is developing 8-MW turbines for offshore projects through which it will strengthen its foothold on the European market.

In 2015 Gamesa is targeting turbine sales of 3.1 GW while it aims to boost that to 3.5 GW-3.8 GW in 2017. The company also guided for a doubling of its earnings before interest and tax (EBIT) between 2014 and 2017.

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