Econintersect: Spain's wind turbine maker Gamesa yesterday said it will develop wind farm projects with a total capacity of 600 megawatts in China with local partners. Foreign wind equipment makers, who have lost contracts in China to local manufacturers rapidly in recent years, are forming partnerships with Chinese power firms in order to maintain market share. Follow up:
Follow up:The wind farms will be built in Jilin Province and the Inner Mongolia Autonomous Region in partnership with Guangdong Nuclear Wind Power and China Huadian New Energy Development, Gamesa said in a statement. Gamesa last year said it aims to have 30 percent of its sales coming from China in 2011, doubling from 15 percent in 2009.
Gamesa stock has risen more than 30% over the past four months. The latest close for the stock was €5.84 on the Madrid SE C.A.T.S. This was up €0.08 for the day.