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India

Sany plans $3bn of Indian investments

INDIA: Chinese turbine supplier Sany has pledged to invest $3 billion in building wind projects in India.

Sany provided 102 1.5MW turbines to the Adama II site in Ethiopia
Sany provided 102 1.5MW turbines to the Adama II site in Ethiopia

Sany said it is planning to make the investment in India over the next five years to develop 2GW of wind capacity, using its machinery. It is also looking to set up manufacturing facilities in the country.

"We are confident that Sany will quickly become one of the world's top turbine manufactures," said Sany Heavy Industry chairman Liang Wengen.

The company said it was looking to increase its global footprint following installations in the US and Ethiopia, the firm said.

"India will become Sany's second global wind power manufacturing centre after China. Sany Heavy Energy will leave no stones unturned to achieve this goal," the firm added.

Sany had been caught up in a long-running legal dispute in the US over a project in Oregon. The case was settled in November 2015.

Sany executives had sued President Barack Obama and the Committee on Foreign Investment in the United States (CFIUS).

The dispute erupted in 2013 after Obama's administration abruptly barred Ralls from developing the Butter Creek projects in Oregon — on "national security" grounds — and ordered the projects sold. They are located near a US Navy test base.

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