The two companies have signed a memorandum of understanding (MoU) to set up a 50:50 JV for the co-development of projects, with a focus on India and Mexico.
SunEdison will acquire the projects and fund the construction phase. The company plans to place the projects into its TerraForm yieldco.
Gamesa will supply its turbines to the projects and could be contracted to build them. The company will also provide operations and maintenance services to the projects under long-term deals.
SunEdison will also commit to buy additional wind turbines from Gamesa for its plants based on the amount of MWs co-developed under the deal.
The definitive agreements regarding the creation of the JV, including initial selection of projects for co-development, are anticipated to be signed by the end of this year.
SunEdison executive vice president of the Americas and EMEA Paul Gaynor said: "This agreement will accelerate SunEdison’s drive to respond to rapid growth in global wind markets."
Gamesa business CEO Xabier Etxeberria said: "This alliance with SunEdison falls under the umbrella of our new Technology Development Programme within the 2015-2017 Business Plan and will enable Gamesa to make the most of its technical and management experience, reinforcing its leadership as developer."
Image: Gamesa and SunEdison will set up a 50:50 JV for the co-development of wind projects, with a focus on India and Mexico. Photo: courtesy of pakorn/FreeDigitalPhotos.net.
