Siemens Gamesa has completed the divestment of its 32% stake in Windar Renovables to private asset investor Bridgepoint, OffshoreWind.biz has reported.
Windar Renovables is a Spanish manufacturer of wind turbine towers and offshore foundations.
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The transaction details, including the purchase price, remain confidential.
The move is part of Siemens Gamesa’s strategy to concentrate on its core business and expedite its turnaround.
The company will maintain its relationship with Windar as a strategic customer, continuing to source offshore wind project substructures globally.
These include monopiles, jackets, transition pieces, and floating substructures such as semi-submersibles and spars.
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By GlobalDataSiemens Gamesa CEO Jochen Eickholt stated: “It is part of our strategy to divest non-core activities and to focus on our core businesses: design, manufacturing, installation and maintenance of wind turbines. This is what we are working on, step by step, to become a reliable and profitable company.”
Established in 2007, Windar Renovables is based in Avilés, Asturias, and has seven manufacturing facilities across Spain, Brazil, India and Mexico.
The company has been involved in numerous offshore wind projects worldwide.
Siemens Gamesa’s decision to sell its stake to Bridgepoint was initially made in May 2023.
While agreeing to acquire the stake, Bridgepoint has committed to support Windar’s growth. The company aims to strengthen Windar’s role in the renewable energy sector in Asturias and across Spain.
In 2023, Spanish utility Iberdrola chose Windar to manufacture transition pieces for two of its offshore wind farms including the 1.4GW East Anglia Three in the UK and the 300MW Windanker in Germany.
