New giant offshore-project agreed
Two main players at the offshore wind farm market Avera and Gamesa decided to create a new offshore wind farm company and this week the two parties have signed a binding agreement about building a joint venture.
The new cooperation with its 2.8 GW project pipeline is expected to reach 20 % market share till 2020 and become a leading one in the European offshore wind industry. The transaction has to be approved in the fourth quarter of 2014 by the French government and European controlling authorities. Gamesa will contribute to the cooperation assets totaling to € 195 million and Areva is going to invest assets valued at € 280 million. The 50/50 joint venture will include the offshore businesses and activities of both companies.
The future joint venture has already notable customers, among them are Iberdrola, the consortium of GDF SUEZ, EDP Renewables and Neoen Marine. The headquarter of the new company will be in Zamudio in Spain, the Executive Committee will operate from Paris.