For the second consecutive year, Gamesa emerged as the largest wind energy capacity developer in India.
According to a report released by Make Consulting, Gamesa commissioned about a fourth of the 2.3 gigawatts (GW) wind power capacity added in India in 2014. The Spanish company has been bullish on the Indian market for a while now and plans to forge ahead expanding its operations in the country.
With almost 600 MW capacity added in 2014, Gamesa plans to add 1 GW of capacity in the current calendar year. The company reported 1 GW cumulative installed capacity in India last year.
To expand operations, Gamesa will invest €100 million in India over the next 5 years. Gamesa's CEO even indicated last year that Gamesa could consider entering the solar power market.
India's largest integrated wind energy solutions provider, Suzlon Energy, was the second-largest developer in 2014. While the company's performance has slipped significantly over the last few quarters due to mounting the debt, this has resulted in other players, like Gamesa, taking the lead.
While the Indian wind energy market may seem quite crowded with increased competition, the market size is set to expand tremendously soon.
By 2022, India plans to have a cumulative installed wind energy capacity of 75 GW. The government intends to launch the National Wind Energy Mission to attract large-scale investments and also open the offshore wind energy sector soon.