By Joseph Bonney
The merger of Germany’s Siemens and Spain’s Gamesa (click here) into the world’s biggest builder of wind farms is the latest in a series of mergers and acquisitions in a sector that has become a top source of project cargo shipments.
Siemens agreed to pay 1 billion euros ($1.13 billion) for a 59 percent majority stake in the combined company. The deal meshes Siemens’ strength in offshore wind power with Gamesa’s leading position in developing markets. “Although some degree of cannibalization is to be expected as the two companies unite their wind businesses, the new combined venture will indeed surface as a leading global wind turbine manufacturer in terms of annual installation volumes,” said Magnus Dale, senior analyst of European power, gas, coal and renewables at IHS Energy.
The merger follows other industry consolidation, including the merger of Nordex and Acciona Windpower, which was approved in January, and GE.
The new company will have the world’s largest market share in wind power manufacturing, surpassing China’s Goldwind and Denmark’s Vestas. Combined turbine installations of Siemens and Gamesa in 2015 would yield 8.1 million gigawatts in 34 markets globally, according to IHS Energy, which, like JOC.com, is owned by IHS Markit....
The wind turbine market is real.
7 July 2015
By Joshua S. Hill
Siemens has been awarded a wind turbine order (click here) for 580 MW by DONG Energy for the Race Bank wind power plant which could be worth up to $1.2 billion.
Siemens will provide 91 of its 6 MW direct drive wind turbines to the Race Bank offshore wind power project, set to be located approximately 32 kilometers off the British eastern coast. Upon completion, which is set for the beginning of 2018, the 580 MW project will generate enough electricity to supply approximately 400,000 British households....
