Gamesa recovers order pace with Asia sales

Gamesa’s wind turbines sales totaled 1,600 MW with 38 per cent coming from Asia.  The United States accounted for 22 per cent of sales. Revenues in services amounted to 227 million euro.

Sales coverage in 2010 is already 93 per cent. By November 2010, Gamesa had met 100 per cent of its guidance for the year, with wind turbines order of 2,450 MW, and 33 per cent of its guidance for 2011, with orders of 982 MW.
The company continued its capex optimisation policy, amounting to 87 million euro in M9 2010, which includes expenditure linked to: manufacturing of the G10X-4.5 MW; increasing capacity in India for the G5X wind turbine; the creation of new manufacturing capacity for the G8X-2 MW in China; and commencement of construction of two new plants in China in Jilin and Inner Mongolia.

In China, it recently announced new wind turbine supply contracts with Guangdong Nuclear Wind Power, Datang Renewable Power and Henan Weite Wind Power for a total capacity of 251 MW.

Gamesa continues expanding its development pipeline in China together with local partners. The company recently extended its contracts by 276 MW—adding 126 MW with Guandong Nuclear in Shandong province and 150 MW with Huadian in Inner Mongolia—increasing its joint development pipeline to 2,126 MW.

Significant decline in Spain's weighting among Gamesa's strategic markets: it accounted for just 7% of revenues, compared with 29% in M9 2009.

Firm wind turbines orders in Q3 increased fivefold, compared to the third quarter of 2009, to 1,186 MW. It also tripled the second quarter intake. New order intake for delivery in 2010 increased fivefold, to 584 MW, and orders for delivery in 2011 rose sixfold, to 602 MW.