Spain, February 28, 2019. Ingeteam Power Technology, an independent global supplier of electrical conversion equipment, announced today that it contracted over 4GW of wind energy converters globally in 2018. With a total of 45GW installed capacity to date, the company remains the unchallenged number one supplier of wind power converters in the world.
The Ingeteam Group closed the year with a 15% increase in turnover compared to 2017.
Ingeteam achieved these strong results despite price pressures on the wind supply chain due to an increasing competition among OEMs, as well as the recent industry slowdown in Brazil and India, two strategic markets for Ingeteam.
“The wind industry as a whole has weathered a challenging period in India and Brazil last year. That impacted our sales a little, but the slowdown has leveled off and we expect orders to rebound strongly this year,” said Ana Goyen, Director of Ingeteam Wind Energy.
Going forward, Ingeteam will benefit from the excellent growth outlook of the global wind sector, which becomes competitive with other energy sources in an increasing range of market conditions. This encouraging general environment combined with a stabilization in global prices and Ingeteam’s strong focus on innovation and client partnerships, provides an excellent foundation for the company’s future performance. For 2019, the company expects to experience steady sales growth, with major gains in all key markets.
In particular, the company’s recent investment in India in a facility equipped with state-of-the-art production technology is providing solid sales momentum. The feedback from both local and international clients is overwhelmingly positive.
“This highly efficient production centre is based on a modular design, and boasts agile production lines, so we can swiftly embrace our client needs. Our customer-centric approach is really paying off there. We are happy to report that we have delivered our first units in 2018 and that our orderbook is very healthy going forward. We anticipate that about 25% of the total capacity we aim to deliver in 2019 will be manufactured in our Chennai factory,” continued Ana Goyen.
Ingeteam’s strategy to position itself as a complete solution provider for wind OEMs has proven very successful over the years.
“We can supply equipment from any of our production facilities in Europe, Asia, North and South America, applying the same standards and know-how. We can also deliver the most efficient and specialized support and service to clients from our sales and service centres strategically located all over the world,” said Ana Goyen.
The company offers power converters, turbine controllers, CMS, SCADA and O&M services. With locations across the globe, Ingeteam is the world’s #1 independent supplier of wind power converters with 45 GW of installed wind power capacity, an 9% market share and the first ISP (Independent Service Provider) worldwide with a total maintained power of 8.6 GW.
About Ingeteam Group
Ingeteam is an international group specializing in power and control electronics (inverters, frequency converters, controllers and protections) and electrical engineering and automation projects. Its range of products includes Indar generators, electric motors, and submersible motors & pumps. The Group completes its products and systems portfolio with operation & maintenance services.
Ingeteam develops its products, systems and services for many different sectors: wind, PV, hydro and fossil fuel power generation; metal and mineral processing; mining; marine; rail traction; waters; e-vehicle charging; power grid, always striving towards more sustainable energy generation, transmission, distribution and consumption.
The company operates throughout the world, and is permanently based in 22 countries, with a headcount of 3,900. R&D is the backbone of its business activity, in which 5% of the its turnover is invested annually.
