Gamesa has signed binding agreements with Areva to form a 50:50 joint venture (JV) with focus on the offshore wind energy industry, following completion of exclusive talks initiated in January 2013.
The JV aims to secure a 20% share of the European offshore wind market by 2020 and deliver 2.8GW of capacity.
Go deeper with GlobalData
The transaction, which is subject to approvals by the French Government and the relevant competition authorities in Europe and other jurisdictions, will combine both the companies’ expertise in delivering turbines to the offshore wind market.
The offshore wind market is expected to cross 25GW in Europe and 18GW in Asia by 2020.
Under the terms of the accord, Gamesa will contribute assets worth €195m including its 5MW offshore platform; offshore R&D knowledge transfer and license of the onshore technology that can be applied offshore; extensive operations and maintenance ability, and industrial know-how and supply chain access.
See Also:
Additionally, Areva will contribute assets valued at €280m, which include 5MW and 8MW offshore platforms; a 2.8GW pipeline, the offshore market’s second largest; offshore R&D and engineering knowledge transfer, and offshore manufacturing and logistics capabilities, as part of the agreement.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe new company will further develop the upcoming 8MW platform to reduce costs with a view towards installation by 2021 at 1GW of sites recently won by Areva in France’s second offshore wind tender.
With registered headquarters in Zamudio, Spain and the executive committee to be based in Paris, France, the JV will fulfill existing Areva industrial development commitments in France and the UK.
The transaction is expected to be completed by the fourth quarter of 2014.
Image: Areva and Gamesa partner to launch 50/50 joint venture for offshore wind segment Photo: courtesy of xedos4 / FreeDigitalPhotos.net.
.gif)
