Wind Power, marriage between Gamesa and Siemens: global giant is born

Spain's Gamesa and Germany's Siemens announced the merger of their respective wind energy business to create the leading builder of wind farms in the world. Gamesa said it has reached an agreement in principle but the final details have to be approved. It is not clear whether the German company will opt for the sale of its division.

Siemens and Gamesa are respectively the fourth and the seventh in the world manufacturer of wind turbines and, together, would account for 12.6% of the global market, becoming the second company in the industry world after Vestas, which is 13.2%, unseating Chinese Goldwind. "Gamesa has provided the necessary corporate approvals for the integration of wind activities of Siemens and the company", the statement says issued by the Spanish group, after which trade on the stock market of Gamesa shares have been suspended, "the final terms of operation have not yet been agreed and will be communicated to the authority for the markets. "