Gamesa has signed a deal for its biggest ever wind power transaction, agreeing to supply Iberdrola with wind turbines with a power-generating capacity of 2,700MW.
The deal, which is worth more than E2.3 billion, involves the sale of G5x and G8x wind turbines and amounts to the equivalent to 80% of Gamesa’s annual production capacity for 2008.
Building upon this European agreement, Gamesa and Iberdrola have also entered into a deal for 1,000MW worth of wind farms in the US. This will involve Iberdrola acquiring 500MW of wind farms to be installed by Gamesa before the end of 2009. Of these, 300MW will be firmly committed, while the remaining 200MW will be subject to a preferential acquisition right. Gamesa said that the other 500MW will be related to the acquisition of on track promotion activities.
The US agreement will be between $700 million and $1 billion, depending on the final MW figure sold.