In the recent past, we have seen several strategic moves of wind OEMs in the M&A space.

Vestas carved out its offshore turbine business and joined forces with Mitsubishi Heavy Industries; Envision partnered with ViveEnergia, a large project developer in Mexico; Goldwind launched a Danish unit; Nordex bought Acciona Wind; Gamesa and Areva founded Adwen for their joint offshore turbine development; Suzlon sold Senvion to Centerbridge, a private equity house.

We