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9/15/2016

Gamesa acquires half of Adwen from Areva for $67.5 million

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This is a result of the merger between Gamesa and Siemens.

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Gamesa (Vizcaya, Spain) says it has acquired 50 percent of Adwen from Areva (Paris, France) for $67.5 million. Adwen was the 50:50 joint venture between Areva and Gamesa and this announcement is a result of the merger between Siemens (Munich, Germany) and Gamesa. According to Reuters, when Siemens and Gamesa agreed to their merger in June, they specified that Areva had three months to decide whether it wanted to buy out Gamesa's 50 percent Adwen stake, or sell it to them. Reuters stated that Adwen has contracts to build 1,500 megawatts of offshore wind power generating capacity on the French coast for utilities Engie and Iberdrola. 

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