The turbine manufacturer said that the sale of a stake in Windar Renovables, a joint venture between Spanish manufacturing company Daniel Alonso Group and Siemens Gamesa, is part of its strategy to focus on its core business
Siemens Gamesa has signed an agreement to sell a 32% stake in its Spanish wind turbine tower manufacturing business Windar Renovables to British private investment company Bridgepoint.
Bridgepoint is a UK-based private equity investor with more than €38bn of assets under management in Europe, the US and China.
Windar Renovables is a joint venture between Spanish manufacturing company Daniel Alonso Group, and Siemen’s wind turbine division Siemens Gamesa.
The turbine manufacturer said the move was part of its strategy to focus on its core business.
Siemens Gamesa CEO Jochen Eickholt said: “The sale of Siemens Gamesa’s stake in Windar is a natural decision for us, as part of our strategy to focus on our core business: wind turbine design, manufacturing including blades, installation and maintenance.”
“We are convinced that the entrance of Bridgepoint in the capital of Windar will enhance the growth strategy of the company.
“Siemens Gamesa and Windar will continue their long-lasting strategic partnership, both in onshore and offshore, with several long-term supply agreements.”
Last week, Siemens Energy announced that it was looking to exit peripheral activities in the supply chain, most importantly where it is only a partial owner.
In recent years, manufacturing of wind turbine components has become challenging due to supply chain problems, competition and rising raw materials prices, reported Reuters.