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SGRE to buy Senvion assets

Siemens Gamesa Renewable Energy (SGRE) has reached agreement to acquire selected European assets of Senvion Group for EUR200 million (USD223.3 million).

The deal includes a large part of Senvion’s European onshore service business, all the necessary assets to provide full service, all the intellectual property of Senvion, as well as the onshore blade manufacturing facility in Vagos, Portugal.

SGRE said the Vagos plant would help to strengthen the company’s industrial value chain and reduce dependency on supplier sourcing from Asia, mitigating volatility amid the uncertainties brought about by current trade issues. As part of the acquisition, approximately 2,000 Senvion employees are expected to join SGRE.

Meanwhile, Spanish renewable energy producer Acciona has launched a bid for German wind turbine manufacturer Nordex that values the company at more than EUR1 billion (USD1.2 billion).

Acciona already owns a stake in Nordex but agreed to invest a further EUR99 million (USD109.9 million) in the turbine manufacturer, taking its stake to 36.27 percent. Under German law, owning more than 30 percent in an organisation can trigger a mandatory takeover bid.

Heavy Lift | News

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