Turbine manufacturers AREVA and Gamesa have joined forces to create a new offshore wind company with plans to become a “leading player” in the sector.
They have signed agreements for the joint venture (JV), aiming to secure close to 20% of the European market share by 2020 as well as deliver 2.8GW of capacity.
The 50/50 partnership will combine the two companies’ expertise in delivering turbines to the offshore wind market, which is expected to exceed 25GW in Europe by 2020.
“The JV will fulfil existing industrial development commitments both in France and UK that have up until now been led by AREVA”, the firms said in a statement.
The deal is expected to close at the end of this year.