Iberdrola Renewables and Gamesa: wind sector’s largest ever transaction

Iberdrola Renewables and Gamesa have signed the largest turbine supply contract ever in the wind power industry representing a total capacity of 4,500 megawatts (MW), for delivery between 2010 and 2012. The investment for wind power projects to which the turbines will be assigned is approximately €6.3 billion, a figure that includes the turbines and other costs such as transport, civil works and interconnections, both those at the wind farms themselves and to the grid.

Under the terms of the agreement, Iberdrola Renewables will assign the turbines to its wind power projects in Spain, the rest of Europe, the United States and Mexico. The contract covers installation and startup of the turbines, as well as operational services and maintenance during the life of the guarantee.
As a result of this important agreement, Iberdrola Renewables will be able to meet its turbine supply needs during the coming years for its wind power project portfolio, which currently stands at 43,280 MW, not including projects to be incorporated from Gamesa Energia, and thereby avoid one of the major uncertainties in this business by assuring the installation of a significant portion of its projects for the medium term. More than 70% of its requirements will thus be met up to 2012.

Euro-Petrole