Gamesa sets up $71m fund to invest in renewables innovation

Spanish wind power giant Gamesa has set up a €50m ($71m) corporate venture capital fund to buy stakes in start-up or growth companies developing renewable technologies.

Gamesa is interested in six key areas of innovation: wave power; next generation PV; energy storage; electric vehicles; energy efficiency; and off-grid power generation.

The Spanish group says it will offer companies in which it takes a stake the benefit of its market position and expertise in technology, manufacturing and finance, as well as its local supply chain.

In the medium to long-term, Gamesa will consider taking the companies over, either as new business lines or as sources of future value via spin-offs on capital markets.

The wind group says the fund Log in to read complete article.

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