.JPG)
The new company intends to secure 20% share of the European offshore wind market by 2020 and deliver 2.8GW of capacity.
The transaction will combine both the companies’ expertise in delivering turbines to the offshore wind market, which is expected to cross 25GW in Europe and 18GW in Asia by 2020.
Under the deal, Gamesa will contribute assets worth €195m including its 5MW offshore platform.
Areva will contribute €280m worth of assets including 5MW and 8MW turbine platforms as well as offshore R&D and engineering capabilities.
The new company will further develop the upcoming 8MW platform to reduce costs with a view towards installation by 2021 at 1GW of sites recently won by Areva in France’s second offshore wind tender.
The JV will have registered headquarters in Zamudio, Spain, while the executive committee will be based in Paris, France.
The transaction is expected to be completed by the fourth quarter of 2014.
A joint statement from the companies noted that the JV will fulfill existing Areva industrial development commitments in France and the UK.
Plans include the construction of a turbine assembly and blade manufacturing facility in Le Havre, France.
Image: The new company intends to secure 20% share of the European offshore wind market by 2020. Photo: Courtesy of xedos4/FreeDigitalPhotos.net.
