Ingeteam strengthens its internationalization strategy with the opening of subsidiaries in India and South Africa
January 30, 2013
Ingeteam recently opened two new subsidiaries, one in the African Continent and another in the Asian Continent. Thus strengthening its internationalization strategy. The subsidiary in the African Continent is located in South Africa. In Asia, where Ingeteam is already firmly established in China, it has strengthen its presence in the continent with the opening a new subsidiary in India, more specifically in Gurgaon, located just to the south of New Delhi.
The new subsidiaries will be mainly targeting the renewable energy sector: photovoltaic power,solar thermal power and wind power, among other.
In India, the company has participated in its first photovoltaic installation, with the supply of inverters to a 5 MW power plant, located in the state of Gujarat, one of India’s most industrialized states, located on the west side of the country. The prospects in the solar power market are promising and considerable growth is expected in the coming years. Based on the evolution of the markets, Ingeteam will be extending its activity to other sectors of interest for the company, like the railway sector, among other.
On the other hand, for Ingeteam, South Africa is not a new destination. In the 90s, the company already carried out several works, for the iron and steel industry, in this country. Now, Ingeteam has decided to open a new subsidiary in Midrand; this company will be mainly targeting the renewable energies sector. In South Africa, with predictions of spectacular growth, the prospects for the energy sector are very promising, mainly in what concerns renewable energy, where it is expected that in the next three years projects, totalling 3.7 gigawatts, will be awarded.
The past five years the company’s supplies to the renewable energy market, reached a remarkable figure of more than 31 GW. The most relevant being the wind power market, where Ingeteam supplied equipment with a total power of approximately 20 GW. At present, approximately 8% of the worldwide wind power incorporates equipment supplied by Ingeteam. In the photovoltaic market Ingeteam has supplied Ingecon Sun inverters to its customers for a total of more than 3 GW of power, positioning itself among the leading manufacturers of this equipment, worldwide Moreover, it has built equipment for hydroelectric power stations totalling more than 6 GW of power. Lastly, in what concerns solar thermal power it has designed and supplied equipment and "Turnkey" power plants totalling approximately 310 MW.
Besides these two new subsidiaries the company has subsidiaries in the Americas, more precisely the United States, Brazil, Mexico, Chile; in the Asian Continent it has a subsidiary in China; and in the European Continent its subsidiaries are located in Germany, France, Italy, Czech Republic and Poland.