Iberdrola and Gamesa in Huge Windfarm Deal
Jun 20, 2008 - The Herald
The renewable energy subsidiary of ScottishPower owner
Iberdrola yesterday said it was buying a raft of global
windfarm projects from Spanish turbine maker and developer
Gamesa for euro65m (GBP51m), including three potential sites
The move is part of an overall euro6.3bn alliance and turbine
supply deal between Iberdrola Renovables and Gamesa, billed
as the largest deal in the history of wind power.
Bilbao-based Iberdrola, which last year acquired ScottishPower
for GBP11.6bn, said it will buy the Gamesa turbines to generate
4500 megawatts, which will provide 70per cent of its generator
needs until 2012.
Gamesa Corporacion Tecnologica and Iberdrola Renovables
said the alliance would develop and run wind power parks
in Spain and throughout Europe.
The euro65m part of the deal will see Iberdrola Renovables
acquire wind projects from Gamesa in the UK, Mexico and
the Dominican Republic, including two potential sites in
Scotland at Whitelee, near Eaglesham, and Caithness, currently
under planning review.
A site in Dumfries and Galloway is also being considered,
an Iberdrola spokesman told The Herald yesterday.
"If these sites win planning approval, these former Gamesa
projects will automatically transfer to Iberdrola Renovables,
" the spokesman added.
Iberdrola Renovables, the biggest wind power producer in
the world with 8164 megawatts of installed capacity, is
the renewable energy arm of Spain's largest utility, which
owns 80per cent of the renewables unit. Iberdrola also owns
almost 24per cent of Gamesa.
Originally published by Newsquest Media Group.