Spanish wind turbine maker Gamesa Corporacion Tecnologica SA (GCTAY) is doubling its wind turbine manufacturing capacity in India by September with a INR5 billion ($110 million) investment, to cash in on the South Asian country's fast-growing renewable energy sector.

Gamesa, one of the world's largest wind turbine manufacturers by capacity, is seeking to expand through its Indian unit, Gamesa Wind Turbines Pvt. Ltd., which now has a 500 megawatts manufacturing capacity in the southern city of Chennai.

Gamesa Corporacion expects to sell 500 MW to 800 MW of equipment in India each year for the next few years, Chief Executive Jorge Calvet said Wednesday.

Global wind energy majors such as Gamesa and India 's Suzlon Energy Ltd. (532667.BY) have turned to fast-growing economies where rising energy requirements is fueling investments in renewables as demand for costlier renewable energy was hit in traditional markets in the U.S. and western Europe amid the economic downturn.

When asked about if Gamesa was looking at a possible stake buy in Suzlon Energy, Calvet said "categorically no," adding that the company is focusing on growth outside of acquisitions.

Gamesa plans to set up new manufacturing facilities in India for making components for its 2 MW turbines, including blades and towers, in 2011 in the western state of Gujarat and the southern state of Tamil Nadu.

It will set up the wind tower manufacturing unit in joint venture with Spanish wind tower company Windar Renovables S.L., Ramesh Kymal, chairman and managing director of Gamesa's Indian unit, told reporters.

"We are starting to diversify our portfolio of products in India . We are introducing a 2 MW turbine uniquely suited for the Indian market for low-wind speed conditions," he said.

The Gujarat facilities will be operational by September and the ones in Tamil Nadu by the first quarter of 2012, Kymal said.

Gamesa's Indian manufacturing operations will also feed neighboring countries like Mauritius and Sri Lanka , he said, adding that 20 MW has been sold to Sri Lanka with orders for another 30 MW to 40 MW in the pipeline.

India will not only be Gamesa's manufacturing hub for South Asia but also its expanded research and development base, he said.

India 's current wind energy capacity is about 12,000 MW and Gamesa plans to boost the company's manufacturing capacity to 1,000 MW by September.

Wind-based power generation of about 17,000 MW to 20,000 MW is expected to form the bulk of renewables-based capacity addition in India over the next five years through 2016, according to industry estimates.

Kymal said Gamesa Wind Turbines was set up in February 2010 and in the first year generated INR10 billion in revenue in India from wind turbine sales, totaling 150 MW of equipment, or 175 wind turbines.

Gamesa said there is also potential in the 'repower' market in India , which involves upgrading old wind farms with new technology and equipment to raise their efficiency.

"We are pioneering the repowering of wind turbines in India ," Kymal said.

The repower market in India is worth 250 MW to 300 MW and Gamesa already has a project pipeline of 50 MW, he added.

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