Companies

Siemens Gamesa open to providing fund support to customers

M Ramesh Chennai | Updated on July 10, 2020 Published on July 10, 2020

Siemens Gamesa India, the Indian arm of the German-Spanish wind turbine manufacturer of the same name, is open to providing (or making available) funding to its customers, the company's Onshore Chief Regions Officer , Enrique Pedrosa, told BusinessLine on Thursday.

“We have done that before and we will be doing it in future too,” Pedrosa said, though noting that the company had not done customer-funding for “a high percentage of our sales” and would also be very selective while doing so.

Siemens Gamesa is “ready to study and explore” opportunities of financing, Pedrosa said on phone from Spain, on the occasion of the company launching a new product, 3.4 MW turbine, for the Indian market.

(In March 2019, Siemens Financial Services, incorporated in India, picked up 46 per cent stake in a 200 MW Poovani wind farm of Greenko.)

Siemens Gamesa, like all other wind turbine companies in India, has created manufacturing capacities for a much higher level of operations than the market allows today. Answering a question, Pedrosa said the company was not anymore expecting the “high numbers” of the order of 10 GW, in India. Regardless, the company considers India to be one of the major markets in the world. “There is no change in that (perception),” he said.

On wind-solar hybrid projects, Pedrosa said Siemens Gamesa had built a 80 MW hybrid project (50MW of wind and 30MW of solar, for Hero Future Energies).

“We are doing solar PV in India, mainly to gain knowledge of hybridisation,” he said. Observing that hybrid projects would be the trend in future, he said that “in this, India is ahead of many other markets.”

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Published on July 10, 2020
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