trending Market Intelligence /marketintelligence/en/news-insights/trending/9Y546gk0Ho3gTyiZ9bKo9Q2 content esgSubNav
In This List

Siemens completes merger of wind business with Gamesa

Blog

European Energy Insights - May 2021

Blog

Metals & Mining Insights May 2021

Blog

[Report]: 2021 Corporate Renewables Outlook

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective


Siemens completes merger of wind business with Gamesa

Siemens AG has completed the merger of its wind power business with Gamesa Corporación Tecnológica SA, according to an April 3 release.

The merger creates a turbine manufacturer and project developer with an installed base of nearly 75,000 MW, an order book of €20.9 billion and revenue of €11 billion, Siemens said.

Gamesa shareholders overwhelmingly approved the merger in October 2016. Spain's securities market regulator confirmed the merger in December 2016.

"With the new wind power company, we've created a global market leader in the area of renewable energies," said Siemens President and CEO Joe Kaeser.

The deal, announced June 2016, is seen as a sign of consolidation in a maturing industry that should produce a combined company with an expanded product line and stronger balance sheet.