Manufacturers

Gamesa Buys Half of Adwen for $67.5 Million

Gamesa Buys Half of Adwen for $67.5 Million

PARIS, France — Gamesa has acquired 50 percent of offshore wind turbine Adwen from French nuclear energy group Areva for approximately $67.5 million.

When Siemens and Spanish wind farm manufacturer Gamesa agreed on their merger in June, they specified that Areva had three months to decide whether it wanted to buy out Gamesa’s 50 percent Adwen stake, or sell it to them.

In the meantime, GE made an offer for some of the assets, but Areva rejected the advance last month.

Areva said its decision will allow it to limit cash disbursements related to ongoing wind power projects and focus on nuclear power.

 

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