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Ingeteam reports strong growth of wind business in 2019

Ingeteam reports strong growth of wind business in 2019
Ingeteam has reported strong growth of its wind business in 2019 with 4GW of electrical equipment delivered globally. With these positive numbers, the company continues to gain ground as the number one independent supplier of wind power converters in the world in terms of installed capacity.

2019 has been a busy year for Ingeteam. The company delivered nearly 4 GW of electrical equipment to wind OEMs globally. Sales were pushed by good results from India and Brazil, enabling the company to preserve its top spot in these two important emerging markets.

We are pleased with our results, especially considering the difficult market conditions in India last year due to various wind project execution challenges that led to a slow rate of project completion for the country. But things are looking up there, and we expect our orders to be satisfying despite the adverse impact of COVID-19 might have. Fortunately, our new state-of the-art factory in Chennai has an agile and modular design, which allows us to rapidly ramp production up or down according to ever-changing market conditions,” said Alberto Barcia, Commercial Director of Ingeteam’s Wind Business Unit.

With a staggering 13% of turnover invested in R&D, Ingeteam continues to show its commitment to innovation and industrial leadership with deeds, not words: “We have around 400 employees working in R&D. Our key driver is to keep on improving the performance of the global wind sector through innovation, to help make it competitive with conventional energy sources everywhere, regardless of the market conditions. Let us remember that the current global energy system accounts for 75% of greenhouse gas emissions. In this context, making wind energy more and more competitive will be instrumental in providing the decarbonized electrical generation backbone needed to curb greenhouse emissions globally and tackle the climate crisis effectively,” commented Alberto Barcia.

In spite of the dire world health situation, the wind industry as a whole is expected to keep growing in 2020. Ingeteam also expects to have yet another positive year, as its strategy to position itself as a complete solution provider for wind OEMs continues to pay off. Ingeteam offers a wide range of proven, in-house developed electrical equipment up to 15 MW for both onshore and offshore applications. Thanks to the company’s localization strategy, this equipment can be supplied from production facilities in Europe, Asia, North and South America, with consistent and high-level standards.