Gamesa and Arevasigned binding agreements for the creation of a JV that will cater to the offshore wind market. The new company will be ideally positioned to become a leading player in the offshore wind segment with a 2.8-GW pipeline and the objective of garnering a market share close to 20% in Europe by 2020.
The JV will have two 5 MW platforms, which will allow the new company to address market requests with greater flexibility. It will work on the optimization of the AREVA’s M5000, as well as Gamesa’s 5.0 MW offshore turbines. The new company will also further develop its upcoming 8 MW platform, in order to continue to be a driving force in lowering the levelized cost of energy of offshore wind. The JV will benefit from the recently won 1 GW pipeline in France’s offshore round 2, where the 8 MW is set to be installed by 2021.
The 50/50 JV will combine both groups’ offshore businesses: technological and manufacturing expertise and extensive track records in the wind industry. The closing of the transaction is expected to be secured by Q4, subject to approval by the French government and the relevant competition authorities in Europe and other jurisdictions.
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