* Company looking at Peru, Chile, India -CEO
* Decision depend on products, local regulation -CEO
* Global wind demand to grow by 4 percent in 2015
By Christoph Steitz
BERLIN, Aug 25 German wind turbine maker
Senvion, which was snapped up by buyout group Centerbridge
Partners in January, could expand into new markets such as
Chile, Peru and India as part of its drive to grow sales and
improve margins, its chief executive said.
"Why has Centerbridge decided to buy us? Because we're a
successful company with growth potential," Andreas Nauen told
Reuters in an interview on Tuesday, adding the group was
currently discussing which markets to enter.
Wind turbine makers have emerged from years of losses and
overcapacity, as governments around the world pick the
technology to reach their renewable targets.
Like solar, the wind sector largely depends on government
subsidies, making it vulnerable to sudden policy swings, such as
the one in Britain, which in June said it would scrap all new
subsidies for onshore wind farms from April next year.
Demand is expected to grow by 4 percent to 53.5 gigawatt
this year, according to trade association Global Wind Energy
Senvion's core markets include Germany, where it makes
nearly a third of its sales, as well as France, Canada and
Australia. It also sells its turbines in other markets,
including the United States, Turkey and Japan.
But with China, the world's biggest wind turbine market,
being effectively closed for foreign producers, European makers
of the technology, including Senvion, have to look for growth
"In India you will see a continuous rise in power demand,"
Nauen said, adding that picking new markets could take up to two
years, due to local regulation, product mix as well as
Formerly known as REpower, Senvion was sold by debt-laden
Indian peer Suzlon for 1 billion euros ($1.15 billion)
earlier this year, a change of ownership that has given Senvion
the space it needs to thrive, Nauen said.
"People have stopped asking the question whether or not we
will survive," he said.
Senvion, which competes with German peers Nordex,
Enercon and sector leader Siemens, grew sales by 6.6
percent to 1.93 billion euros in its fiscal year 2014/2015,
which ended in March. Its operating margin rose to 4.6 percent,
up from 3.4 percent in the previous year.
For the ongoing year, the group targets sales of 2.05
billion euros and operating profit of 110 million, with a
possible deviation of 10 percent for both.
($1 = 0.8709 euros)
(Editing by William Hardy)