Gamesa continued its dominance in the Indian wind energy market in financial year 2015-16 with the highest installations.
Gamesa India reported installation of 1 GW wind energy turbines. This is the first time the company has reached the milestone in a financial year. The achievement is remarkable if one compares it with the installation during the previous financial year – 657 MW.
With the installed of 1 GW capacity the company also secured market share of 30% in India for FY2015-16. A total of 3.3 GW wind energy capacity was added in the country in FY2015-16.
India remains a huge market for Gamesa with the emerging renewable energy market contributing as much as 29% to the total global sales at the company. Earlier this year, Gamesa reported that total order intake in India during 2015 surpassed 1,300 MW, an increase of 54% over 2014.
However, with crucial financial incentives set to expire at the end of the current financial year industry watchers expect a sharp decline in installed capacity. Gamesa has already geared up such developments.
Gamesa re-entered the solar EPC market last year to grab a share in the rapidly expanding Indian solar power market. It secured a number of solar EPC assignments and is expected to push for more to boost revenue.