MADRID, Sept 14 (Reuters) - Spanish wind turbine maker Gamesa said on Tuesday it had signed a strategic agreement to supply 1.32 gigawatts of turbines to wind farms in China in 2010-2013.
The deal is part of an agreement to develop wind farms with Chinese companies Guangdong Nuclear Wind and Datang Renewable Power and will help Gamesa achieve its goal of having over 30 percent of sales based in China, Gamesa said in a press release.
"One of Gamesa's goals is to cement its position as one of the top five players in the Chinese wind energy industry," Gamesa Chairman Jorge Calvet said in the release.
Gamesa has four plants manufacturing wind turbine components in China and a 3.18 GW project pipeline, which it has built up to offset lower demand for windfarms in its rapidly maturing home market of Europe.
China, which has to rely largely on external sources of energy to meet its soaring demand, is the largest and fastest growing wind energy market in the world.
Gamesa plans to invest over 90 million euros in China in 2010-2012 and bring two further factories on stream in the country, where it is targeting a production capacity of 1.5 GW of turbines per year in 2011.
By 1127 GMT Gamesa shares had surged 6.37 percent to 5.53 euros, making up ground on peer Vestas, which added 1.88 percent to sharp gains made yesterday as dealers and analysts spoke of vague bid rumours surrounding the sector. (Reporting by Jonathan Gleave; Editing by Will Waterman)