Gamesa’s Indian unit to supply wind turbines in Sri Lanka

* For 12 850 kW turbines in a new wind farm project

Gamesa Wind Turbines Pvt. Ltd, Gamesa’s Indian subsidiary, one of the world leaders in the design, manufacture, installation and maintenance of wind turbines and a reference in the wind farm development sector, has signed a new agreement to supply wind turbines to a wind farm project in Sri Lanka for Pawan Danavi Private Limited, a subsidiary of LTL Holding, one of the largest utility companies in the country.

This new wind farm project, with 10.2 MW installed capacity, will have 12 Gamesa’s G58-850 kW Class III turbines. These turbines are expected to be delivered by Q3 2011.

Speaking on the occasion, Ramesh Kymal, Chairman and Managing Director of Gamesa in India said, "We are immensely happy to be the partner of choice for Pawan Danavi. I am confident that this will be a successful long term partnership. I strongly believe that wind power is one of the viable and sustainable options to meet the growing energy demands. For us this partnership with Pawan Danavi aims at facilitating Sri Lanka’s wind market growth in a significant way. Gamesa is glad to bring-in to Sri Lanka our vast experience in the wind energy sector and thus playing a major role in facilitating the country’s wind market growth."

U. D. Jayawardena, Chairman and CEO, Pawan Danavi Private Limited said, "Sri Lanka has huge potential for generating power from wind energy. We are committed to becoming a major player in the power generation space in the country, and it is important for us that our partner matches our ambition with capability and expertise. With Gamesa, we are confident that we’ll have the best lifecycle value contribution, allowing us to rapidly build up bankable and profitable power projects".

Gamesa is an experienced company in the Sri Lanka’s national wind farm business. Its first project, the largest in the country until now, consisted in the installation of 25 wind generators. With this project, Gamesa’s installed capacity in the country will raise to 30.2 MW by the end of the year.

Pawan Danavi (Pvt) Limited is a company focused on wind power generation and is a subsidiary of LTL Holdings (Pvt) Limited, the leading power sector engineering firm in Sri Lanka. In addition to being the main independent power producer operating both thermal and renewable energy based power plants, the total capacity of which exceeds 450MW the LTL Holdings engages in many other spheres of power industry including manufacturing of power distribution components, project promotion, EPC construction etc.

Pawan Danavi, which has entered into power purchase agreement with CEB for 20 year term, will own and operate this 10 MW wind power plant inside Kalpitiya peninsula.

LVL Energy Fund (Pvt) Limited, which is a fully owned subsidiary of Lanka Ventures (Pvt) Limited and the CDIC (Capital Development and Investment Company Plc, subsidiary of NDB Bank Plc) are the other equity contributors to the company in partnership with LTL Holdings (Pvt) Ltd.

Meanwhile, Gamesa has 30 production facilities in Europe, the US, China, India and Brazil and has advanced its strategy to make the UK the core of its worldwide off-shore wind business, where it plans to invest over 150 million euro through 2014.

The company has over 7,200 employees globally. Gamesa is listed on the Ibex 35 and forms part of Dow Jones Sustainability, FTSE4Good and Ethibel sustainability indexes, amongst others.

The annual equivalent of the 21,000 MW installed amounts to more than 5 million tons of petroleum (TEP) per year and prevents the emission into the atmosphere of about 31 million tonnes of CO2 per year.

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