AFP, Zamudio :
Shareholders of Spanish renewable energy group Gamesa on Tuesday approved a merger with the wind power division of German engineering giant Siemens.
This tie-up “will create one of the world’s main companies in the sector,” said Gamesa president Ignacio Martin during a special general assembly at its headquarters in Zamudio in northern Spain.
Gamesa will have a 41 percent stake in the merged entity with Siemens holding a majority 59 percent share.
The new group is expected to have a turnover of around 10 billion euros ($10.9 billion), with an order book worth some 22 billion euros and a capacity of 70 gigawatts.
Shareholders of Spanish renewable energy group Gamesa on Tuesday approved a merger with the wind power division of German engineering giant Siemens.
This tie-up “will create one of the world’s main companies in the sector,” said Gamesa president Ignacio Martin during a special general assembly at its headquarters in Zamudio in northern Spain.
Gamesa will have a 41 percent stake in the merged entity with Siemens holding a majority 59 percent share.
The new group is expected to have a turnover of around 10 billion euros ($10.9 billion), with an order book worth some 22 billion euros and a capacity of 70 gigawatts.
