Siemens Gamesa closes Senvion onshore service, IP buy

Three weeks after securing approval from the European Commission, Siemens Gamesa Renewable Energy SA (BME:SGRE) closed the acquisition of several assets belonging to German wind turbine manufacturer Senvion SA (ETR:SEN).

The deal encompasses Senvion’s European onshore wind farm services business, assets associated with it and intellectual property (IP), all tucked under the umbrella of Senvion Deutschland GmbH.

The acquisition of all shares in Ria Blades SA, Senvion’s company that owns a blade factory in Vagos, Portugal, is expected to be concluded by the end of the first quarter of 2020.

Siemens Gamesa said last October it would pay EUR 200 million
(USD 221.9m) in cash for the whole package.

Senvion’s serviced fleet is spread around 13 countries and will bring around 9 GW to Siemens Gamesa’s maintenance portfolio, which will now hit 69 GW, the Spain-based company said today announcing the close.

Senvion, whose main unit filed for self-administration proceedings last April, said in a separate statement that the deal with Siemens Gamesa allowed it to save around 70% of all jobs.

(EUR 1.0 = USD 1.11)

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