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Spain

Spain

Gamesa vows to cut clients' CoE in three-year plan

SPAIN: Gamesa has said it will reduce its clients' 'Cost of Energy' by 20% and 30% over the next three years and five years respectively, as part of its business plan for 2011-to-2013.

The announcement of the business plan came as the manufacturer said it had cut its sales forecast for 2011 to 2,800MW-3,100MW from 2,700MW-3,100MW. It also said margins would fall as a result of difficult conditions in Europe next year, although it expected this to recover by 2013.

In response, Gamesa said that based on its 2009 figures, it planned to increase sales in the US, China, India and Latin America by 15%, 20%, 166% and 50% respectively. It also aims to double its operations and maintenance contract capacity to 24GW by 2013.

Gamesa also announced plans to spend €150million on developing its offshore capacity.

The company is designing two new turbines, the G11X-5MW and the G14X-6/7MW. A prototype of the G11X will be available in Q4 2012 and enter mass production in 2013. The G14X will go into production in 2014.

Earlier this week Gamesa signed a development deal with shipbuilder Northrup Grumman to test the G11X in the US.

In addition to its offshore investment, Gamesa said it would spend €250million per year building manufacturing capacity in new markets and launching new products. This includes a dedicated offshore factory in the UK.

Presenting the plan, Gamesa chairman Jorge Calvet said: "We managed to expand with the market, maintaining margins and aligning volume and production to orders. We are investing in growth-expanding sales in such markets as China, India and the US and optimising production capacity in markets that are experiencing a slowdown, such as Spain."

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