A multi-billion dollar deal has been reached in Spain to provide wind energy technology to Spanish power utility Iberdrola
Gamesa SA concluded the deal with Iberdrola Renovables SA to provide turbines and accessories.
The agreement is the largest-ever wind-power deal, Iberdrola Renovables said.
The turbines will have a joint potential to generate 4,500 megawatts of electricity in wind parks in Europe, Mexico and the U.S. Gamesa is one of the world’s largest wind-turbine makers.
Iberdrola Renovables said it will acquire wind projects currently run by Gamesa in the United Kingdom, Mexico and the Dominican Republic for €65 million.
The two companies also reached a deal for a strategic alliance for the development and the joint operation of wind farms. For those new developments, the two companies will set up two joint ventures, one in Spain and one internationally. The setup of the new company still has to be approved by anti-trust regulators.