Tue, Feb. 9, 11:49 AM
- Siemens (OTCPK:SIEGY +0.2%) is close to a deal to combine its wind business with Gamesa (OTCPK:GCTAF +7.6%), which would create world's largest wind turbine maker, Bloomberg reports.
- SIemens is the global leader in wind turbines designed for use offshore, while Gamesa specializes in onshore wind; together, the combined companies would have ~15% of the global wind market, exceeding Vestas Wind's (OTCPK:VWDRY) 10% share and GE’s 11%.
- Siemens also is holding talks about buying Iberdrola’s (OTCPK:IBDRY -0.6%) 20% in Gamesa, according to the report.
Jul. 2, 2015, 11:40 AM
- SunEdison (SUNE -1.5%) has announced an MOU with Spanish wind turbine maker Gamesa (OTCPK:GCTAF) to create a 50/50 JV to build up to 1GW of wind plants globally by 2018.
- The deal calls for Gamesa to supply turbines and be responsible for plant operations & maintenance (O&M); the company might also provide engineering, procurement, and construction (EPC) services. SunEdison will buy the plants from the JV once they're finished, and also buy additional wind turbines from Gamesa.
- The TerraForm Power (TERP -0.3%) YieldCo is expected to have call rights for wind plants developed by the JV. A "definitive agreement" for the JV is expected by year's end.
- The MOU follows news SunEdison has obtained $360M in financing for, and begun construction on, a 185MW Maine wind project. TerraForm recently disclosed it's in talks to buy up to $2.6B worth of wind plants.
- Shares are lower as solar stocks continue to remain under pressure - the group sold off yesterday amid a 3%+ drop in oil prices. SunEdison is still up 50% YTD.
- Past wind deals: First Wind, Atlantic Power, Cental American/Indian firms
The company has production centres in the main wind markets: Spain and China, as the global production and supply hubs, while maintaining its local production capacity in India, US, and Brazil.
Industry: Electronic Equipment