The Hindu : Pioneer Asia in JV with Gamesa

Online edition of India's National Newspaper
Sunday, Jan 25, 2004

Business

Business

Pioneer Asia in JV with Gamesa

By Our Corporate Reporter

CHENNAI, JAN. 24. Gamesa Eolica, the Spain based manufacturer of wind turbines is entering the Indian market by forming a joint venture with Pioneer Asia Wind Turbines based in Tamil Nadu.

Addressing presspersons here on Thursday, Pedro E. Artigao, Asia Pacific Business Director of Gamesa said the modalities for the joint venture were being worked out. He said Gamesa would initially supply seven numbers of G58-850 kW generators to a spinning mill in Virudhunagar, at a cost of Rs. 26 crores. These are slated to be operational in May this year, he said.

S. Annamalai, Director, Pioneer Asia Wind Turbines said the boom in the economy would see larger installations in the near future. Textile units were keen to install wind mills encouraged by interest subsidy of 5 per cent offered by the textile ministry under the Textile Upgradation Fund. Pioneer Asia group was one of the pioneers in the utilisation of wind power for its captive consumption. The projected market for wind turbine generators in India for the current financial year was around 450 MW and was expected to touch 500 MW next year. Gamesa Eolica was planning to get a substantial market share, he added.

Pioneer Asia Wind Turbines has a well equipped factory in Pondicherry and it had supplied 100 wind turbines so far in Tamil Nadu, Karnataka and Andhra Pradesh.

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