Monday, March 12, 2012

Gamesa makes first Canadian sale - Algonquin to purchase projects from Gamesa

Gamesa Technology Corporation ("Gamesa") of Spain will supply five of its G97, 2 MW turbines to Saturn Power's Gesner Wind Farm, located near the northern shore of Lake Erie between Chatham-Kent and London in the Canadian province of Ontario. The turbines will be installed by mid-2012. "This is a new milestone for Gamesa. The Canadian wind market offers abundant opportunities, and Gamesa has the advanced technology products to bring this clean energy to market in a cost-effective way to benefit local consumers," says vice president of sales for North America, David Takash.

Last week Gamesa agreed to sell four U.S. wind projects to Canadian electricity provider Algonquin Power & Utilities Corp. for almost $900 million USD. The wind projects are located in Pennsylvania, Iowa, Texas and Illinois and will have 240 Gamesa-made turbines with a total generating capacity of 480 megawatts. The transaction between Gamesa and Algonquin will need regulatory approval from the U.S. Federal Energy Regulatory Commission, which may take about 45 days. Additionally, both companies reached an agreement to develop future wind projects in the U.S. and Canada. Gamesa will operate and maintain the projects for a term of 20 years.

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