Siemens Gamesa to Sell Stake in Windar Renovables
Siemens Gamesa has agreed to sell a stake in Spain-based wind turbine tower manufacturer Windar Renovables to London-headquartered Bridgepoint.
Founded in 2007 and headquartered in Avilés (Asturias), Windar Renovables operates ten manufacturing plants over five continents – seven of them located in Spain and the remaining three located in Brazil, India, and Mexico.
The company has experience in manufacturing all existing types of foundations for the offshore wind industry: monopiles, jackets, transition pieces, as well as floating structures (both semi-floating and SPARs).
Over the years, Windar Renovables, owned since inception by Grupo Daniel Alonso and Siemens Gamesa, secured work for several major offshore wind projects, including the 1.4 GW East Anglia Three offshore wind farm in the UK, the 882 MW Moray West wind farm in Scotland, the 496 MW Dieppe Le Tréport wind farm in France, and the 800 MW Vineyard Wind project in the US.
According to Bridgepoint, the firm is currently experiencing outstanding momentum, supported by offshore market growth in Europe, America, and Aisa, as well as by strong wind project development globally.
“Bridgepoint has demonstrated a deep understanding of our market and shares our team’s long-term strategic view; we are convinced that Bridgepoint is the ideal partner to support and accelerate Windar’s business plan for the coming years. We are sure that Bridgepoint will be a driving force in Windar’s expansion and in the execution of the solid project pipeline we have secured over the last few years”, said Orlando Alonso, Windar’s Executive Chairman and CEO.
Bridgepoint, a private equity firm with experience in Spain since 1992, will support Windar in this upcoming growth phase, the company said, with the aim of reinforcing Windar’s, Asturia’s, and Spain’s position as instrumental players in the development of renewable energies.
“The sale of Siemens Gamesa’s stake in Windar is a natural decision for us, as part of our strategy to focus on our core business: wind turbine design, manufacturing, installation and maintenance. We are convinced that the entrance of Bridgepoint in the capital of Windar will enhance the growth strategy of the company. Siemens Gamesa and Windar will continue their long-lasting strategic partnership, both in onshore and offshore, with several long-term supply agreements”, Jochen Eickholt, CEO of Siemens Gamesa.
The transaction, which is expected to close during the second half of this year, is subject to regulatory approvals and other standard conditions.
Orlando Alonso Villarón, Windar’s Executive Chairman and CEO, will continue to hold his position and will keep a minority stake in the company post-transaction, while Siemens Gamesa will continue to be a strategic client for Windar in this next phase.
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