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Gamesa to Supply 30 MW Indo Rama Renewables in India

Gamesa, a global technology leader in wind energy -through its subsidiary in India-, has signed a new order of 30 MW from Indo Rama Renewables, a subsidiary of Indo Rama Synthetics (I) Limited, thereby expanding its Independent Power Producer (IPP) customer base in Northern India. This contract comes weeks after the announcement of the single largest 75 MW order with another IPP, ReNew Power, in Maharashtra State.

As part of the commercial deal, Gamesa will be supplying 15 units of its G97-2.0 MW wind turbines that will be erected and commissioned at Jath in Maharashtra. The project will be completed by 31st December 2012.

The growing orders from Independent Power Producers establish Gamesa’s credibility as a preferred wind turbine manufacturer among the renewable power developers in the country. The deal also reinforces the overall confidence of wind turbine manufacturers even amidst the current slowdown in the wind energy market. India contributes 14% of Gamesa’s total sales in the first half of 2012.

“We greatly value the Indo Rama Renewable deal as it further strengthens the Gamesa 2.0 MW portfolio in the state of Maharashtra”, said Ramesh Kymal, the Chairman and Managing Director of Gamesa in India. “Our company is fast emerging as a market leader with the Gamesa 2.0 MW platform among the growing IPP segment”.

“Indo Rama is delighted to have made its entry into the Indian renewable energy arena with our maiden 30 MW order for Gamesa 2.0 MW turbines in Maharashtra. This is the first of several investment plans that we have carefully chalked out, focused on shareholder returns. We have aggressive plans to be a leading renewable IPP and be an active participant in the exciting Indian renewable energy platform”, said Mr.Vishal Lohia, Executive Director of Indo Rama Synthetics India Limited.

Gamesa (www.gamesacorp.com/en)

With 18 years’ experience and more than 25,000 MW installed in 40 countries, Gamesa is a global technological leader in the wind industry. Its comprehensive response includes the design, manufacturing, installation and maintenance of wind turbines, that manages for more than 18,000 MW.

Gamesa has production centres throughout Europe, the United States, China, India and Brazil.

Gamesa is also a world leader in the development, construction and sale of wind farms, having installed over 5,000 MW and having a portfolio of 25,000 MW in Europe, America and Asia.

Indo Rama Renewables Limited

Indo Rama Renewables Limited was incorporated in May 2012 as a 100% subsidiary of Indo Rama Synthetics (I) Limited with an objective for the Group to diversify into Renewable Power, as an Independent Power Producer (IPP). Indo Rama Synthetics (India) Limited has emerged as India’s second largest dedicated polyester manufacturer.

Apart from being a dominant player in the domestic market, Indo Rama has a significant presence in the major overseas markets, resulting out of a long standing relationship with its major customers spread across Asia, Europe, Africa and the Americas.

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