Follow us at  twitter
Gamesa Corporación Tecnológica's Board of Directors has approved a historic agreement GAMESA has reached with Iberdrola Renovables, involving the largest ever purchase and sale agreement of wind turbine generators in the history of the wind energy sector amounting to a total power of 4,500MW.

This agreement was complemented by the signing of a strategic wind farm agreement through which both companies' competencies in the promotion, development and operation of wind energy projects in Spain and continental Europe will be merged. According to the agreement's terms and conditions, the purchase and sale of wind turbine generators will come about between 2010 and 2012 and they will be destined to wind energy promotions in Spain, the rest of Europe, the United States and Mexico. The agreement includes the wind turbines' assembly and start-up, along with operations and maintenance services during the wind turbines' warranty period. The investment figure linked to this amount of wind power will reach approximately € 6.3 billion. In addition to the cost of the turbines supplied by Gamesa, this figure additionally includes other items like transport, civil works and all electrical connections of both the wind farms as well as to the electricity grid.

Gamesa and Iberdrola Renovables have additionally signed an agreement on the joint promotion, development and operation of wind farms in Spain and continental Europe. In order to put this agreement into practice, two joint venture companies will be set up, one that includes the businesses in Spain and the other one that includes the businesses in some specific countries in continental Europe, and both companies will contribute with their wind farm promotions, development and operation businesses since 1st January 2008. GAMESA will hold a 23% stake and Iberdrola Renovables a 77% stake in the Spanish company. In the international company, Gamesa will have a shareholding of 24% and Iberdrola Renovables a 76% shareholding.
Joomla SEF URLs by Artio