Wind – Siemens Gamesa sells its renewable property in Southern Europe to SSE Renewables

The settlement reached between the Spanish wind turbine firm, Siemens Gamesa, and the electrical energy firm SSE Renewables, which operates primarily in the UK and Eire, contains “onshore wind initiatives in several levels of maturity, with a complete capability of three.8 GW, in Spain , France, Greece and Italy, with the potential for creating as much as 1.4 GW of hybridization initiatives”. Virtually half of the wind initiatives bought are in Spain.

613 million euros is the whole money quantity of the financial operation, and the corporate informs that “580 million euros correspond to the acquisition value and 33 million euros to working capital and web debt changes estimated at June 30, 2022” . The sale contemplates the mixing of fifty members of the Siemens Gamesa workforce in SSE, and a collaboration settlement that opens the likelihood for the Spanish firm to provide wind generators and long-term upkeep companies.

Jochen Eickholt, CEO of Siemens Gamesa: “We’re delighted to have accomplished the take care of SSE earlier than the top of our fiscal yr 2022, as we introduced in April. With this transaction, Siemens Gamesa optimizes its asset portfolio and manages to generate most worth. We’re assured that SSE is the suitable accomplice to develop the superb portfolio of initiatives that our park improvement group in Southern Europe, now additionally a part of SSE, has been in a position to construct through the years.This settlement will undoubtedly strengthen our relationship with SSE”

Stephen Wheeler, CEO of SSE Renewables: “We’re delighted to have closed this deal forward of schedule and to welcome our new colleagues to SSE Renewables. We have now a wonderful group that may assist us set up a long-lasting presence in Southern Europe, creating, constructing and working onshore wind, photo voltaic and storage infrastructures. We hope to proceed working with the completely different actors within the area to advance within the power transition”

Siemens Gamesa Renewable Power was born in April 2017 with the merger of the Spanish firm Gamesa Corporación Tecnológica and the German firm Siemens Wind Energy. It’s a Spanish multinational of recent applied sciences devoted to wind power.

SSE Renewables is a renewable power subsidiary of SSE plc, which operates and develops onshore and offshore wind farms and hydroelectric era within the UK and Eire, now additionally in southern Europe.


Related Articles

Back to top button