Gamesa terminates its negotiations with bard and decides to develop its offshore wind business on its own, Gamesa

Release Date: 2010-07-29

Madrid/Zamudio, 29 July 2010. Gamesa’s Board of Directors has resolved to end the company’s negotiations with Germany’s Bard and to roll out Gamesa’s strategy for the offshore wind market in the short and medium term using in-house resources.

Gamesa and Bard began talks at the end of February with the goal of combining potential synergies from the activities of a world leader in the design and manufacture of wind turbines – a company with a global commercial presence and a supplier to major electricity firms – with those of a pioneer in the offshore wind industry. However, during the course of negotiations and detailed study of the potential transaction both parts have found a significant discrepancy in the terms of the deal.

The board’s decision does not affect the offshore strategy Gamesa designed in October 2009, through which the company aims to play a significant role in this market in the medium and long term. Its offshore strategy is geared towards ensuring that Gamesa capitalises on demand in the Northern European market, specifically the United Kingdom, beginning in 2015.

Using its multi-megawatt turbine technology (which has already been tailored for the G10X-4.5 MW system) and addressing its customers’ needs, Gamesa is currently at work to develop two families of offshore wind turbines. Pre-series of these turbines, which will each have capacity of either 5 MW or 6/7 MW, are slated for launch in 2013 and 2015, respectively.

Both systems address the key concerns currently dominating the market: the efficiency of civil engineering (the No. 1 cost component of investment in offshore wind), wind turbine reliability, grid code compliance, low maintenance needs and minimising the cost of electricity generation.

Type:	NORMAL
Company:	Gamesa
Country:	Spain