The joint venture was equally owned by the two groups.
Areva said: “This sale is part of the transformation plan undertaken by Areva to refocus its business on nuclear fuel cycle activities.”
In June last year, the two companies signed an amendment to the shareholder’s agreement for Adwen.
Under the terms of the amendment, Areva was given three months to decide on the sale of its share in the joint venture to Gamesa or sell 100% of Adwen’s shares to a third-party investor.
Following a 3-month competitive bidding process aimed at obtaining and assessing offers from potential third-party investors, Areva finalized to sell its shares in Adwen to Gamesa.
Areva said: “In particular, Gamesa is aware of the commitments made by Adwen as part of the tender process for the offshore wind farms for electricity generation in France. Those commitments will remain borne by Adwen.”
In March 2015, the two companies entered into an agreement to establish Adwen to undertake design, manufacturing, installation, commissioning and services of offshore wind turbines.
Adwen had a pipeline of 2.8GW of projects under development and aims to control 20% of the European market by 2020.
Registered in Zamudio, Spain, Adwen employed 700 people. Its portfolio included 5MW platform including the AD 5-135 and AD 5-132, and 8MW platform AD 8MW.
