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Siemens Gamesa Renewable Energy has announced that it has reached agreement to acquire selected European assets of Senvion Group for € 200 million.The assets included in the transaction are a large part of the European Onshore Service Business of Senvion Group and all associated assets and operations to provide full service, all the Intellectual Property of Senvion, as well as the onshore blade manufacturing facility in Vagos, Portugal.
 

The acquisition of a Service fleet of 8.9GW from Senvion will take Siemens Gamesa to a total of nearly 69GW under maintenance. As part of the acquisition, approximately 2,000 Senvion employees are expected to join Siemens Gamesa.
 
Subject to obtaining the necessary regulatory approvals and achieving other closing conditions, Siemens Gamesa expects to close the respective acquisition of assets in the first half of the fiscal year 2020 (October 2019 - March 2020), and as a result it will have no impact on financial performance in fiscal 2019.
 
For other parts of Senvion, the wind-down process has begun in order to secure socially acceptable solutions for remaining employees and an orderly liquidation of remaining assets. As announced earlier, some wind turbine continuation projects are being finalised, securing further jobs with some going until the middle of the next year. For other assets, including Indian operations and non-European Service operations, explorative talks with potential investors continue.
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