Areva, Gamesa partners to create 50/50 joint venture for offshore wind segment

Areva has signed binding agreements with Gamesa to create a joint venture in the offshore wind energy industry.

The joint venture company will focus in the offshore wind segment with a 2.8GW pipeline and aims to save a market share close to 20% in Europe by 2020.

The transaction, which is subject to approvals by the French Government and the relevant competition authorities in Europe and other jurisdictions, is expected to be closed by the fourth quarter of 2014.

For the 50/50 joint venture Gamesa will contribute €195m assets including 5MW offshore platform; offshore R&D knowledge transfer and license of the onshore technology which can be applied offshore; extensive operations & maintenance ability as well as industrial know-how and supply chain access.

Additionally, Areva, for the new company, will contribute assets valued at €280m which include 5 and 8MW offshore platforms; a 2.8GW pipeline, the offshore market’s second largest; offshore R&D and engineering knowledge transfer as well as offshore manufacturing and logistics capabilities.

From the outset, the joint venture will boast numerous committed customers amongst which Iberdrola and the GDF Suez-EDPR-Neoen Marine consortium.

The joint venture will have two 5MW platforms to address market requests with greater flexibility and will work on the optimisation of the Areva’s M5000, as well as Gamesa’s 5.0MW offshore turbines.