Gamesa and Areva offshore wind power joint venture headquarters to be in the Basque Country

Tuesday, July 15th, 2014

Basque wind turbine manufacturer Gamesa and French nuclear group Areva have created a new company, in which both hold a 50% stake, to which each will bring its offshore wind energy business for joint future development.

The new company has been founded with assets of around 400 million euros and will have its headquarters in the Biscayan town of Zamudio.

Gamesa will contribute assets worth 195 million euros and about 130 people, mostly responsible for offshore technology development. For its part, Areva, a company controlled mainly by the French Government, is the world leader in nuclear power plant technology and will contribute assets valued at 280 million euros, 25% in working capital.

The new company has been launched with a 2.8 GW project portfolio. Its aim is to achieve a market share of about 20% in Europe by 2020. To do this, the new firm will have two 5 MW wind turbines, already developed by each of the companies individually, and will also jointly develop an 8 MW platform.

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