The agreement envisages a significant investment by Gamesa for a minority stake in Bard and the creation of a joint venture to sell turnkey solutions and provide services in the offshore wind power market. The MoU may also enable Gamesa to develop manufacturing facilities to produce Bard offshore wind turbines under licensing contracts. Gamesa and Bard have agreed on a negotiating period until the end of March to structure the collaboration.
The potential collaboration is highly strategic for both parties. It responds to Gamesa’s plans to continue offering technological solutions to market demand, accelerating it's entrance into a key technology with major prospects for the future. The collaboration will further strengthen Bard’s international footprint in the offshore wind market, foster growth and could lead to relevant synergies.
BARD owns a wind offshore portfolio of 5,000 MW in different stages of development in Germany and the Netherlands and has developed a 5 MW offshore wind turbine (certified by Germanischer Lloyd).
"Working together, Gamesa and Bard will become leading players in the world's offshore wind power market, by combining Bard’s technology and leading position in the German market with Gamesa’s industrial, financial and marketing muscle in the three markets that have most potential in the future, namely Europe, the USA and Asia," said Jorge Calvet, Chairman of Gamesa.
“Bard welcomes the strong interest from Gamesa and believes that the envisaged collaboration provides great opportunities for the future growth of both parties.” said Heiko Ross, Managing Director of Bard Holding GmbH in Emden.
Bard’s first offshore wind power station is under construction and is due for completion in late 2011. The 400 MW offshore wind power station is located 100 km off the coast in 40 m water depth in the North Sea (Germany) with total expected construction cost of €1.4 billion. Meanwhile Bard’s R&D department is currently developing a new 6.5 MW offshore wind turbine, which will commence testing in 2010.
Gamesa, meanwhile, has installed over 16,000 MW of its main product lines in twenty countries spread out over four continents. The annual equivalent of this production amounts to more than 3.45 million tons of petroleum (TEP) per year and prevents the emission into the atmosphere of more than 24 million tons of carbon dioxide per year.
For additional information:
