Gamesa & Areva Create Offshore Wind Joint Venture
Spanish wind energy giant Gamesa will team with French multi-national Areva to create a joint venture dedicated to offshore wind development.
The company will combine the expertise of both companies — Gamesa, a top 10 leading wind turbine OEM, and Areva, specializing in nuclear and renewable energy — to create Adwen, which will be responsible for the design, manufacturing, installation, commissioning, and services of offshore wind turbines.
The company will have 700 employees, and will be jointly owned by the two companies, and will start with a 2.8 GW project pipeline and dreams of acquiring 20% of the European market share by 2020.
News of the joint venture surfaced in January 2014, at which point Areva said it would contribute approximately €280 million of assets and Gamesa would contribute €195 million. But according to early market movement, the move has not been greeted with joy by shareholders, with both company’s shares dropping in early morning trading.
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“The offshore market represents one of the most promising areas for the development of renewable energies over the next decade, particularly in the coastal countries of northern Europe, where the installed base should reach over 25 GW by 2020,” Gamesa wrote in their press release. However, the two companies also believe that their experience in Asia will allow them to tap “the huge offshore wind potential of this region, which could reach 17 GW of installed capacity by 2020.”
Adwen will offer two specific products:
- The Adwen 8MW platform, initiated by Areva and further optimized thanks to Gamesa’s technological expertise, will reach serial production in 2018. With its 1GW project pipeline and an outstanding energy production, the AD 8 MW is set to be a market frontrunner.
- The Adwen 5MW platform offers two complementary 5 MW turbines available for immediate projects: the AD 5-135 and AD 5-132. The AD 5-135, formerly called M5000-135, is AREVA’s 5MW technology with an installed base of 650 MW which will reach 1GW with Wikinger wind farm installation. The AD 5-132, developed by Gamesa and formerly called G132-5.0 MW Offshore, complements the product portfolio with a competitive turbine.
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