India units of Gamesa, Caparo to announce tie-up Tuesday

India units of Gamesa, Caparo to announce tie-up Tuesday

Mumbai: Indian units of Spanish wind turbine maker Gamesa and London, AIM-listed Caparo Energy will announce a “strategic partnership in the wind energy space" at 0930 GMT on Tuesday, the firms said in a media invitation on Monday.

Gamesa and Caparo Energy officials were not immediately available for comment.

Caparo Energy, which aims to develop wind farms of up to 5,000 MW capacity in India by 2017, “is in advanced discussions to acquire land and turbines from international vendors", for its 2,000 MW phase-II development, according to its web site.

Caparo has already partnered Indian wind turbine maker Suzlon to acquire up to 3,000 MW of wind power generation farms for its phase-I in India, it said on its web site.

Gamesa is focusing on Chinese and Indian markets to offset weakness in its European and US Markets.

Its net profit surged 67% in the first quarter as the group’s diversification into Chinese and Indian markets paid off with an uptick in sales, Gamesa had said last week.