LM Wind Power, which set up its second manufacturing facility, in Vadodara, Gujarat, almost a year ago, is now eyeing to start one more.
The Danish company, which makes blades for windmills, set up its first plant in India in Hosakote,
Speaking to BusinessLine on the sidelines of Windergy 2017, the company’s Chief Executive Officer Marc de Jong, said, “We would be interested in a third plant.”
He said that LM’s business in India has grown over 40 per cent each year in the last couple of years. “At the moment, we can’t grow faster than this,” Jong said.
He said that India was also becoming very cost competitive. China is still cheaper but India is closing the gap fast. Today, it makes sense to make blades in India and sell to other markets in the region. If the Indian market dipped, LM could always export from India, he said.
Image Credit : lmwindpower.com