The projects to be co-developed will be selected by SunEdison from Gamesa’s global pipeline, with a focus on India and Mexico. SunEdison will provide financing for the construction of the projects.
Gamesa will supply the wind turbines as well as manage operation and maintenance (O&M) of the power plants under long-term agreements. The company will also provide engineering, procurement, and construction services.
Upon completion, SunEdison plans to acquire the projects and place them on the call rights list for TerraForm Power.
Based on volume targets achieved by the joint venture, SunEdison will purchase additional turbines from Gamesa.
Gamesa Business CEO Xabier Etxeberria said: "This alliance with SunEdison falls under the umbrella of our new technology development program within the 2015-2017 business plan and will enable Gamesa to make the most of its technical and management experience, reinforcing its leadership as developer.
"The combination of both companies’ strengths would also unlock synergies and maximize project returns."
The definitive agreement, including the initial selection of projects for co-development, is planned to be signed by the end of 2015.
SunEdison Americas and Europe, the Middle East and Africa (EMEA) executive vice-president Paul Gaynor said: "This agreement will accelerate SunEdison’s drive to respond to rapid growth in global wind markets."
