Gamesa sells 4 US Wind Parks for $900m

Spain’s Gamesa said it had agreed to sell four wind parks in the United States to Canada’s Algonquin Power and Utilities for about $900 million (700 million euros). The price of Games shares surged by more than 15 per cent after the announcement. Gamesa, one of the world’s top wind turbine groups, will develop and build the wind parks which will have a combined capacity of 480 megawatts, Gamesa said in a statement.

The wind farms will be equipped with 240 of Gamesa’s G9X-2.0 MW turbines and will be located in the states of Illinois, Iowa, Pennsylvania and Texas. “Furthermore, Gamesa and Algonquin Power & Utilities have entered into a collaboration agreement to pursue additional wind power development opportunities in the US and Canada,” the statement said.

Gamesa had a wind farm pipeline of 23,891 megawatts worldwide at the end of last year, including 3,500 megawatts in various stages of development and completion in the United States. It currently has some 30 factories in Europe, the United States, Brazil, China and India. The firm employs some 8,000 people around the world. Algonquin Power & Utilities is a utility company with over $1.2 billion in assets across North America.