Siemens Gamesa closes buy of Senvion's blade factory in Portugal
Senvion's 3.4M104 turbine. Source: Senvion SE 2014. License: All rights reserved.
Siemens Gamesa Renewable Energy SA (BME:SGRE) has finalised the acquisition of Ria Blades SA, a company that owns and operates a blade factory in Vagos, Portugal, from German peer Senvion SA (FRA:SEN).
In addition to purchasing all shares in Ria Blades, Siemens Gamesa has also acquired other additional assets needed for operating the production site, it said on Thursday. The deal is part of a larger transaction, now fully completed, that involved the acquisition of Senvion’s European onshore wind farm services business, assets associated with it and intellectual property (IP). Siemens Gamesa paid EUR 200 million (USD 219.3m) in total for the specific assets, including the Vagos factory.
According to Siemens Gamesa, the Portuguese manufacturing base will enhance the company’s competitiveness in the onshore wind market, enabling it to meet expected growth in production from external suppliers.
“The acquisition of Senvion’s Ria Blades factory was an opportunity we could not afford to miss. It is one of Europe’s most competitive plants, a cutting-edge facility that is very complementary to our existing footprint,” said Alfonso Faubel, CEO of the onshore business unit at Siemens Gamesa.
Senvion’s main unit filed for self-administration proceedings in April 2019. At the end of that year, the European Commission (EC) gave the green light to Siemens Gamesa's proposed acquisition of the above-mentioned assets. The integration of the IP and the Onshore European Service units, with almost 9 GW in service fleet, into the Siemens Gamesa business was initiated at the start of this year.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.