Siemens, whose wind division is based in Denmark, appeared to be set to join a growing list of foreign firms intending to build turbine-component factories in Brazil, including Alstom and General Electric. The group says its €7bn ($9.6bn) order backlog means it has already sold all the turbines it will be able to produce in 2010.

But the group states: "Siemens has no concrete plans to build a wind turbine factory in Brazil. It is true that we want to enter the Brazilian market. If we receive orders from Brazil, we will make sure that we comply with the local manufacturing requirements."

The denial comes after a source within Siemens said: “We will enter the Brazilian market and attend to the national index requirements,” referring to Brazil’s political requirement that 60% of the content in its wind farms originates locally. He is adamant that the company will not divulge information prior to firming all relevant contracts, but confirms that Siemens will build a factory in Brazil.

He says some particulars are still being worked out, but details of the plant will be divulged very soon: “The decision has been made.”

Luís André Sá D’Oliveira, infrastructure manager at the national development bank, BNDES, which finances a large portion of the wind power existing and being developed in Brazil, also confirms to Recharge that Siemens has been approved to supply locally-made wind equipment.

D’Oliveira says Siemens will build an extension to its existing São Paulo manufacturing plants, and for the next three years 50% of its equipment will be considered to be Brazilian-made. As a result, developers using Siemens equipment will be eligible for BNDES financing

Meanwhile, Andreas Nauen, chief executive of Siemens Wind, says his division turned a profit of €382m on sales of €2.9bn in 2009 – or a 13% margin. Siemens Wind has grown its sales at an annual clip of 60% since acquiring Danish turbine maker Bonus in 2004.

“We don’t have any more turbines for onshore projects in 2010,” Nauen says. “We are fully booked.”

In addition to its onshore growth, spurred by sales to Scotland’s 300-megawatt Clyde project, Siemens is also charging into the offshore market, thanks in part to its close relationship with wind-friendly Danish utility DONG. Siemens has already installed turbines totalling 1.1 gigawatts (GW) offshore, and with another 2GW under contract.

But Nauen cautions that while offshore will be a driver of growth in the coming years, onshore turbines will continue to account for 90% of the global wind market for the foreseeable future.

He adds that Siemens Wind benefits from being part of a global conglomerate which can often offer financing to clients – a key advantage in an economic downturn. “It helps that Siemens can offer more than just the turbine.”