Siemens, Gamesa to form the world’s largest wind farm business
Siemens and Gamesa have signed agreements to merge Siemens’ wind power business, including wind services, with Gamesa to create a leading global wind power player. Siemens will hold 59 per cent of the share capital while Gamesa’s existing shareholders will hold 41 per cent. Additionally, Gamesa and Areva have entered into contractual agreements whereby Areva waives existing contractual restrictions in Gamesa’s and Areva’s offshore wind joint venture Adwen, simplifying the merger between Gamesa and Siemens. “The merger with Siemens constitutes recognition for the work performed by the company in recent years and evidences our commitment to generate value in the long term by creating significant synergies and extending the horizon of our profitable growth. 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,” said Ignacio Martín, Executive Chairman and CEO of Gamesa.