Wind turbine manufacturers, Siemens and Gamesa, to merge

Wind turbine manufacturers, Siemens and Gamesa, to merge

maintenance agreement for offshore wind farm and wind energy, wind turbine

Siemen’s AG and Gamesa Corp. Tecnologica SA , two large wind turbine manufacturers have recently completed negotiations to move forward on an $11 billion merger. Although a deal has been negotiated, the merger is still required to move through shareholder and regulatory approvals but is expected to be fully completed by Q1 2017.
This new conglomerate will be able to rival the likes of Vestas Wind Systems A/S and General Electric Co. and is an attractive move for both companies. Siemens will be taking a 59% stake in the company, while Gamesa will hold the remaining 41%.
This new company will have its headquarters and onshore business in Spain while offshore business will stay with Siemens in Germany and Denmark.
According to Gamesa, the new company will have 69GW on installed wind power worldwide, an order backlog of approximately €20 billion, revenue of €9.3 billion and an adjusted EBIT of €839 million.
Gamesa CEO Ignacio Martin said “Today, we are embarking on a new era, creating, alongside Siemens, a world-leading wind player. We will continue to work as before, albeit as part of a stronger company and with an enhanced ability to offer all of our customers end-to-end solutions.”
Siemens CEO Joe Kaeser added, “The combination of our wind business with Gamesa follows a clear and compelling industrial logic in an attractive growth industry, in which scale is a key to making renewable energy more cost-effective.”
If this deal is to go through, this merger will result in the world’s largest Original Equipment Manufacturer (OEM).

Posted By Sally on June 21, 2016 | 1 Comments

Recent Comments

  1. This is a good news for both Wind Power company because at the end of the day the customers and company will benefit this venture.

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