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Gamesa upgrades to full-year blowout after acquisition

Spanish company Gamesa, recently acquired by Siemens, grew to historic sizes in the third quarter this year. Although part of the progress came from its recently acquired stake in Adwen, the turbine manufacturer is now upgrading its full-year guidance for 2016 for the second time this year.

Photo: Gamesa

Spanish wind turbine manufacturer Gamesa ended the first nine months of this year with strong winds in its sails, shows the company's third quarter interim report released Thursday evening CET.

Unsurprisingly, all key figures increased significantly as the company has acquired 50 percent of offshore wind company Adwen in a joint venture. Revenue thus landed at EUR 3.3 billion which is an increase of 31.8 percent compared to the same period in the previous year. In sales, 3,256 MW were booked, constituting growth of 41 percent.

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