Siemens Gamesa Renewable Energy (SGRE) has completed the acquisition of European service assets and Intellectual Property (IP) of Germany-based Senvion.
The acquisition, which was announced in October last year, was agreed for a cost of €200m ($223m).
Siemens Gamesa said that the transaction adds nearly 9GW of serviced fleet and operations in 13 countries.
The deal consists of a significant part of the European onshore service business of Senvion and all associated assets and operations.
Siemens Gamesa CEO Markus Tacke said: “This has been a unique opportunity for consolidation, a win for all parties and a perfect match for Siemens Gamesa. By integrating these assets and highly skilled professionals we will improve our position as a leading global service partner at a crucial moment for the wind industry´s growth.
“The transaction also offers Senvion’s customers a long-term solution for their servicing needs, following Senvion’s insolvency.”
The addition of the Senvion assets is expected to strengthen Siemens Gamesa’s competitive position in its multibrand portfolio.
The Senvion service fleet is expected to expand Siemens Gamesa multibrand footprint to more than 10GW and its fleet under maintenance to approximately 69GW.
Siemens Gamesa to diversify its business mix from the acquisition
The acquisition will also help Siemens Gamesa to diversify its business mix and geographical exposure with contracts that provide long-term visibility.
Senvion Deutschland and its European subsidiaries, which were part of the acquisition, will now operate as a pure service provider within Siemens Gamesa Service unit.
Siemens Gamesa’s Service business CEO Mark Albenze said: “This acquisition is an important part of our strategy to grow our multibrand service business. Now that we’ve successfully closed the transaction, we will focus on the integration and ensuring that operations continue smoothly.
“By acquiring all relevant know-how and IP to access the SCADA and controller software, technical knowledge on spare parts supply and Senvion’s remote control center, we are well positioned to offer competitive service solutions to all of Senvion’s customers worldwide.”
Siemens Gamesa said it is making progress on the acquisition of all the shares in Ria Blades, which owns and operates the business of the wind turbine blades production facility in Vagos, Portugal.
The company targets to complete the Ria Blades acquisition before the end of March 2020.
