Gamesa to sell 183MW of wind projects to Impax

Gamesa has agreed to sell 183MW of wind projects under development in Germany to investment management firm Impax. The Spanish wind turbine manufacturer will develop the projects using its 2MW […]

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By Priyanka Shrestha

Gamesa has agreed to sell 183MW of wind projects under development in Germany to investment management firm Impax.

The Spanish wind turbine manufacturer will develop the projects using its 2MW and 1.4MW turbines from next year to 2015.

The sale is part of Gamesa’s new strategy to keep its capital requirements down by inviting financial investors to buy the projects it then builds and develops.

Gamesa Business CEO Xabier Etxeberria said: “This transaction represents a major step forward in our strategy for this business as outlined in our business plan, which will enable us to develop wind farms, safeguarding our role as a technology company and capitalise on our know-how and project portfolio. We are joining forces with partners with experience and financial capacity, such as Impax, who complement us and demand high-quality assets.”

The firms plan to finish discussions on the sale in the next two months.