Siemens Gamesa closes the sale of its 32% stake in Windar Renovables to Bridgepoint

MADRID, 1 Feb.

Siemens Gamesa closes the sale of its 32% stake in Windar Renovables to Bridgepoint


Siemens Gamesa has completed the sale to investment group Bridgepoint of its 32% stake in tower manufacturer Windar Renovables, the company reported.

In this way, an agreement that was reached in May of last year is closed, when the Daniel Alonso Group, owner of 68% of Windar, and Siemens Gamesa reached an agreement for the sale of the company to Bridgepoint.

The parties have agreed not to reveal the purchase price, although financial sources indicated to Europa Press that the operation valued the company in a range of around 600-700 million euros.

Siemens Gamesa considered this sale as "logical" in its strategy, since the company "aims to focus on its core business - the manufacturing of wind turbines - and its priority is to achieve a return to profitability."

The completion of this transaction represents the next natural step for Siemens Gamesa after the sale of the wind farm development business for southern Europe just over a year ago.

In this sense, the CEO of Siemens Gamesa, Jochen Eickholt, considered that the sale is part of the group's strategy to "disinvest in non-strategic activities and focus on its core business: the design, manufacture, installation and maintenance of wind turbines." . "We are working on this, step by step, to become a reliable and profitable company," he said.

The wind turbine manufacturer will continue to be a strategic customer for Windar and will continue to acquire different types of substructures for offshore wind energy projects around the world, such as monopiles, jackets, transition pieces and floating substructures - both semisubmersibles and spars. .

Founded in 2007 and headquartered in Avilés (Asturias), Windar Renovables has ten production plants that serve the five continents, seven of them are located in Spain and the remaining three are located in Brazil, India and Mexico.

According to the sale agreement, Windar's executive president, Orlando Alonso, would continue in the position held to date and would maintain a minority stake in the company.