Iberdrola will purchase 2,700MW of turbines from Gamesa, for installation in its wind farms in Spain, the rest of Europe, the USA and Mexico.
It says the deal is the largest in the history of the wind energy sector, worth Euro 2.30 billion between 2007 and 2009. The two companies also finalised the sale of wind farms in the USA during the same period with 1,000MW of installed capacity in the states of Pennsylvania, Texas and Illinois. The deal includes assets of 500MW capacity that Gamesa will commission before the end of 2009, of which 300MW is firmly committed while 200MW is subject to a preferential right of acquisition. The 500MW balance is for purchases of developments currently in progress. The cost of this deal will be € 700 to 1,100 million and will depend on the technical and temporal variables involved and on the number of wind megawatts finally acquired by Iberdrola. The value includes assembly and commissioning of the turbines, as well as operation and maintenance through the warranty period.