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juin
13
2008
IBERDROLA RENEWABLES and Gamesa sign wind sector’s largest ever transaction

The Company has consolidated its world leadership* in the wind power sector, with 8,164 MW** installed at the close of the first quarter of 2008

The Company is acquiring turbines with a total capacity of 4,500 MW for wind projects in Europe, the United States and Mexico, thus meeting more than 70% of its requirements up to 2012

The two companies have also signed a strategic agreement to jointly promote, develop and manage wind projects in Spain and continental Europe**

IBERDROLA RENEWABLES is acquiring Gamesa’s wind projects in the UK, Mexico and the Dominican Republic with a total capacity of 900 MW, for around €65 million

IBERDROLA RENEWABLES and Gamesa have signed the largest turbine supply contract ever in the wind power industry representing a total capacity of 4,500 megawatts (MW), for delivery between 2010 and 2012. The investment for wind power projects to which the turbines will be assigned is approximately €6.3 billion, a figure that includes the turbines and other costs such as transport, civil works and interconnections, both those at the wind farms themselves and to the grid.

Under the terms of the agreement, IBERDROLA RENEWABLES will assign the turbines to its wind power projects in Spain, the rest of Europe, the United States and Mexico. The contract covers installation and startup of the turbines, as well as operational services and maintenance during the life of the guarantee.

As a result of this important agreement, IBERDROLA RENEWABLES will be able to meet its turbine supply needs during the coming years for its wind power project portfolio, which currently stands at 43,280 MW, not including projects to be incorporated from Gamesa Energía, and thereby avoid one of the major uncertainties in this business by assuring the installation of a significant portion of its projects for the medium term. More than 70% of its requirements will thus be met up to 2012.

The dimensión of this contract, the largest turbine supply agreement ever signed, has enabled the Company to achieve optimum pricing and conditions. It follows another signed with the same company in 2006 for 2,700 MW in capacity, and those signed recently by IBERDROLA RENEWABLES with General Electric (300 MW), Mitsubishi (300 MW), Suzlon Wind Energy Corporation (700 MW) and Ecotècnia (310 MW).

Source : Communiqué IBERDROLA

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