EnergyWatch

Gamesa approves Siemens merger

The world's - perhaps - largest wind turbine producer is one step closer to materializing after an extraordinary general assembly. One critical, unknown factor remains to be resolved.

Shareholders in the Spanish wind turbine producer Gamesa said yes to a merger with Siemens at an extraordinary general meeting Tuesday. Now, a collaboration between two of the world's current five largest wind turbine producers is one step closer to reality. A merger will create a titan with revenues of around DKK 70 billion (approx USD 100 million) and an order catalog of approximately USD 22 billion.

Practically speaking, the collaboration will see Siemens take over 59 percent of Gamesa. Meanwhile, the German firm has agreed to pay one billion euros to the Spanish shareholders when the merger is complete in the first quarter next year.

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