Dec 2 2010
Siemens has unveiled its plans to invest approximately $87 million in wind turbine development in India in the next two years.
A.K. Dixit, the company’s CEO Energy cluster, said that the company has plans to start a designing and manufacturing facility at the plant to commence its production in the beginning of 2013. He added that its new Vadodara facility will incorporate the latest wind turbine manufacturing technology.
Siemens India has recently opened its office in Vadodra, Gujarat, to commence and expand its operations in the wind and solar renewable energy segments in India. The company currently has 21 production plants all over India. As on 2009, the company has a business volume of around 12,000 crore rupees and is looking forward to double it in the following two years. The company is focusing on offering highly efficient wind turbines with affordable costs to independent power producing companies and project development companies. The company holds nearly 80% of the world’s solar thermal market share by providing its parabolic trough technology. The company has recently taken over the management of Solel Solar Systems, a company known for its vacuum- based receiver tubes. Siemens is planning to provide turnkey type of project solutions for its specialized parabolic trough solar power plants. The company is also looking forward to offering contract solutions, which include planning, supply and installation of solar systems with the required components.
Dr. Armin Bruck, Siemens’s Managing Director, said that India has a positive outlook towards its renewable energy markets and has a huge market potential in wind and solar business sectors. He added that installing the company’s office at Vadodara signifies the intention of the company to enter into wind and solar energy markets of India and is looking forward to participate actively in the Indian renewable energy market.