North American Windpower: Gamesa Sells Equipment, Assets To Iberdrola In U.S.

in News Departments > Projects & Contracts

by NAW Staff on Thursday 05 October 2006

Gamesa, a wind power company based in Spain, has sold wind power assets to Spanish utility Iberdrola in the U.S. for a maximum of 3.3 billion euros ($4.19 billion).

According to Gamesa, the deal includes 2,700 MW of wind power generators for about 2.3 billion euros and the sale to Iberdrola of as much as 1,000 MW of wind farm capacity in the U.S. for between 700 million and 1 billion euros.

The purchase of the wind farm assets also includes 500 MW of capacity that Gamesa will bring into production before the end of 2009, the company says. Of these, 300 MW are firmly committed, while the remainder will be subject to a preferential acquisition agreement right. The other 500 MW relate to purchases that Iberdrola may make as Gamesa brings capacity online.

Don't miss the latest wind energy news -- register to receive NAW's news headlines.

Latest Top Stories

As U.S. DOJ Investigates, Duke Works Adaptive Management Plan

With previous golden eagle fatalities reported at two company-owned wind farms in Wyoming, Duke Energy Renewables is going to great lengths to protect raptors.

DOE To Recast Landmark 20% Wind Energy Report; Study Looks Back, Ahead

The U.S. Department of Energy will update its 20% Wind Energy By 2030 report, which indicated increased levels of wind penetration for the U.S. is not only possible but feasible.

Wind Energy Procurement Top Of Mind For Big-Name Companies

With greater frequency, top-tier companies are discovering the economic and environmental power of wind energy and upping their investments in the resource.

WINDPOWER Panelists Issue A Call To Arms: Protect RPS Mandates

Votes on several legislative bills concerning state renewable portfolio standards (RPS) are nearing. How can you help protect and maintain these development drivers?

Wind Industry Still Awaits First Eagle-Take Permit Under BGEPA

The first wind developer to apply for a take permit under the Bald and Golden Eagle Protection Act has withdrawn its application.