Spain's Gamesa (GCTAF.PK) strikes a deal to sell four wind parks in the U.S. to Canadian group Algonquin Power & Utility for close to $888M. The companies say they plan to pursue additional wind power development opportunities in the U.S. and Canada.
French nuclear plants come to the rescue, delivering needed electricity as freezing weather causes Scotland's wind farms to seize up, producing just 2.5% of potential at a time of peak electricity demand. Scotland is officially opposed to nuclear power.
Both US political parties are committed to essentially free trade, while China uses trade policy as a weapon in becoming the stronger nation. China will eventually have enough dollars and Western technology to dominate world markets; the value of the yuan will be irrelevant. Gamesa (GCTAF.PK) is a cautionary tale.
Spanish wind-turbine maker Gamesa (GCTAF.PK), once the dominant player in China, provides a cautionary tale for outsiders. It now finds itself a smaller player in China, challenged on its European home turf by Chinese manufacturers, and maybe even the target of a takeover by a Chinese firm.
Struggling Spanish wind-turbine maker Gamesa (GCTAF.PK) could be the first target for Chinese manufacturers looking to gain entry into Europe. Gamesa has been the victim of slowing orders in Spain and eroding profit margins from Chinese competition.