Siemens Gamesa Renewable Energy has signed a deal to buy three units of insolvent wind turbine manufacturer Senvion for €200 million ($223 million).
The assets include a large part of the firm’s European Onshore Service Business, its 8.9GW fleet, all associated assets, operations and intellectual property and its onshore blade manufacturing facility in Vagos, Portugal.
The move saves around 2,000 jobs at Senvion.
Markus Tacke, Chief Executive Officer at Siemens Gamesa, said: “Bringing Senvion´s service assets on board will help us to drive growth in a key market segment and add important capacity in Germany and other important European markets, while the blade factory helps us mitigate the risk in the difficult trade environment. We´re bringing good people and good business into the company and that´s a win for all parties.”