Gamesa, AREVA re-work offshore wind partnership

June 17, 2016 08:56 AM Eastern Daylight Time

PARIS–(BUSINESS WIRE)–Gamesa and AREVA (Paris:AREVA) have signed an amendment to the shareholder’s agreement for Adwen, the joint venture dedicated to offshore wind that is equally owned by the two groups.

According to the terms of the amended documentation, AREVA has three months to exercise one of the following options:

  • Sell its share in Adwen to Gamesa, or
  • Sell 100% of Adwen’s shares to a third-party investor which may submit a more attractive binding offer during this period; the sale of the entire capital is made possible by AREVA’s drag-along right on Gamesa’s stake.

At the end of this 3-month period, AREVA will disclose the option selected for the divestiture of its shares in Adwen.

The commitments made by Adwen as part of the tender process for the offshore wind farms for electricity production in France will remain borne by Adwen.

MORE ABOUT AREVA AREVA supplies high added-value products and services to support the operation of the global nuclear fleet. The company is present throughout the entire nuclear cycle, from uranium mining to used fuel recycling, including nuclear reactor design and operating services. AREVA is recognized by utilities around the world for its expertise, its skills in cutting-edge technologies and its dedication to the highest level of safety. AREVA’s 40,000 employees are helping build tomorrow’s energy model: supplying ever safer, cleaner and more economical energy to the greatest number of people.