New offshore wind giant

The newly formed joint venture will exclusively develop both partners’ offshore activities. With Areva’s M5000 and Gamesa’s 5.0 MW offshore turbines, the company will now be able to address market request for 5-MW platforms with greater flexibility, the partners noted.
Moreover, the joint venture will further develop an 8-MW platform in order to continue to be a driving force in lowering the levelised cost of energy of offshore wind.
While having its registered headquarters in Zamudio (Vizcaya, Spain), its executive committee will be based in Paris. The board of directors will have eight members, four  appointed by each Gamesa and Areva. Xabier Etxeberria, Gamesa’s business CEO, will be the joint venture’s chairman of the board.
The new company’s general manager will be Arnaud Bellanger, currently executive vice president for offshore wind at AREVA.
The closing of the transaction is expected to be secured by the fourth quarter of this year, subject to the approval by the French Government and the relevant competition authorities in Europe and other jurisdictions.