Gamesa

completed

The proposed project is to provide debt financing of up to €11 million to Gamesa Wind Turbines (“GWT” or the “Company”), a wind turbine assembly facility in India (the “Project”). The turbines assembled at this facility will be exported, sold domestically as well as used in local wind farms developed by the Company.Spain-based Gamesa Corporación Tecnológica S.A. (“Gamesa” or the “Sponsor”), which is one of the three largest wind turbine manufacturers globally, established GWT in late 2009 to lay the groundwork for producing wind turbines in India. The GWT facility is located in Chennai and will produce cost effective wind turbines specially suited for the Indian grid and wind conditions. GWT is also involved with conducting research on developing sites appropriate for wind farms in the region and has, to date, signed contracts in India and Sri Lanka for the installation of more than 60 MW. The facility has a capacity of 200 MW per annum and the Company has plans to scale it to over 800 MW in the coming two years through the new wind turbine assembly facility.