Chinese wind company wins India turbine orders in overseas push

Triveni Turbine | The company reported higher consolidated profit at Rs 35.67 crore in Q3FY22 against Rs 27.54 crore in Q3FY21, revenue rose to Rs 225.15 crore from Rs 173.56 crore YoY.

China’s second-largest wind manufacturer said it has received 1.9 gigawatts of turbine orders from India, highlighting companies’ efforts to seek overseas sales as the domestic market becomes increasingly competitive.

Envision Energy Co.’s combined orders amount to the largest capacity that a Chinese wind manufacturer has sold to a single foreign country, the Shanghai-based company said in a press release Tuesday. Envision didn’t detail over what time period the orders were received.

Chinese wind equipment suppliers and turbine makers have mostly focused on the massive domestic market. But the top companies are facing growing challenges at home, as smaller players increase sales and competition heats up on pricing. Many are now seeking a more global footprint as nations start to ramp up renewables efforts to meet climate goals.

The wind giants are targeting regions including Southeast Asia, South America and Eastern Europe. Industry leader Xinjiang Goldwind Science & Technology Co. last month received 148.5 megawatts of orders from Chile, after selling an accumulated 8.7 gigawatts of turbines overseas by the end of 2021. Ming Yang Smart Energy Group Ltd., which focuses on the offshore wind market overseas, has received orders from developed countries such as Italy and Japan.

Envision will send to India a total of 596 turbines, each of which has 3.3 megawatts of capacity, with the majority to be delivered in the first half of 2023. The company said it has set up a factory in India to ensure efficient delivery, and the turbines will be installed in five states across the country.