Siemens, Gamesa rumored to be close to wind power consolidation

Siemens AG and Gamesa Corporacion Tecnologica are believed to be close to an agreement to combine their wind power businesses, the Wall Street Journal reported June 15.

The WSJ cited sources familiar with the situation as saying an announcement could come within days. The two companies are already among the top wind turbine makers in the world.

Siemens and Gamesa in February agreed in principle to combine their wind activities, but was complicated when Gamesa had to renegotiate elements of an offshore wind joint venture with another company, the WSJ reported.

Reuters quoted Gamesa June 15 as saying that no merger agreement has been reached.

Siemens (Berlin and Munich) is a global powerhouse in electrical engineering and electronics. The company has 348,000 employees (as of Sept. 30, 2015). Siemens Wind Power and Renewables Division has over 31,000 MW of wind power installed, according to a Siemens website.

Spain-based Gamesa says on its website “22 years of experience and the installation of more than 35,200 MW worldwide have made Gamesa a global technology leader in the wind industry.”

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.