Roblon to get USD 6.6m after SGRE buys Ria Blades

Senvion wind turbines. Source: Senvion SE 2014. License: All rights reserved.

April 3 (Renewables Now) - Roblon A/S (CPH:RBLN-B) said Thursday it is waiting for Siemens Gamesa Renewable Energy SA’s (BME:SGRE) acquisition of Senvion unit Ria Blades to be finalised, at which time it will receive a previously agreed settlement of USD 6.6 million (EUR 6.1m).

In 2019, the Danish fibre-based products manufacturer suffered “major losses” as a result of Senvion’s financial hurdles as it is one of Roblon’s major clients. In December, the companies reached a conditional settlement agreement. 

The settlement amount is due to be paid once SGRE’s acquisition of Portuguese Ria Blades closes. This was expected to happen in the first quarter of 2020, but Roblon yesterday said the transaction has not been completed yet. 

Senvion’s main unit filed for self-administration proceedings in April 2019. At the end of the year, the European Commission (EC) gave the green light to the acquisition by Siemens Gamesa of its onshore wind farm servicing business in Europe, all of the German company’s intellectual property (IP), and its blade manufacturing plants in Portugal.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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