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GE may make bid for Adwen on Aug 24 - report

Adwen nacelle. Copyright: Adwen / P. Beglez.

August 23 (SeeNews) - US conglomerate General Electric Co (NYSE:GE) intends to make a bid to buy French offshore wind power company Adwen on August 24, La Lettre de l'Expansion said on Monday.

The magazine did not give more details about the offer.

Adwen is a 50/50 joint venture between French nuclear power company Areva SA (EPA:AREVA) and Spanish wind power group Gamesa (BME:GAM). The latter is currently being acquired by Germany’s Siemens (ETR:SIE), which has the option to take over the French offshore wind JV as well. Areva, though, has the chance to sell 100% of Adwen to a third party via a drag-along right for Gamesa's shareholding in the JV.

Previously, news agency Reuters reported that German wind turbine maker Senvion (ETR:SEN) was preparing to bid for Adwen, too.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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