Siemens, Gamesa to form the world’s largest wind farm busi­ness

Power Watch India - - DESPATCHES NATIONAL -

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.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.