The Hindu Business Line : Gamesa Pioneer to invest Rs 100 cr to make wind turbines

GAMESA Pioneer Wind India Pvt Ltd., a joint venture between Gamesa Eolica of Spain, a leading manufacturer of wind turbines, and the Pioneer Asia group of Sivakasi, Tamil Nadu, will invest about Rs 100 crore in a facility to manufacture wind turbines at Pondicherry.

The investment includes import handling facilities, equipment to assemble the turbines, maintenance services and spares, besides working capital. The company's plant will come up at Pondicherry, where another Pioneer group company makes smaller capacity wind turbines.

Mr D.V. Giri, Chief Executive Officer, Pioneer Asia Wind Turbines, said at a press conference on Friday that the exact equity holding structure between Gamesa Eolica and Pioneer group was being worked out. The two companies would sign a technology transfer agreement under which the joint venture company would get license to manufacture Gamesa's 850-kW wind turbines.

Initially, the turbines would be imported and assembled at the Pondicherry plant, but as volumes picked up, the company hoped to substantially indigenise the components.

The joint venture hoped to get a 20 per cent share of the wind turbine market in India in the next 18 to 24 months, he said.

He said that Pioneer Wincon Pvt Ltd, a Pioneer group company that makes 250 kW wind turbines at its Pondicherry plant, had sales last year of Rs 60 crore. This year the company hoped to increase its sales to Rs 150 crore this year.

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