US gives green light for Siemens-Gamesa wind power merger
The US Department of Justice has approved the mega-merger between Siemens Wind and Gamesa, a spokeswoman at the Spanish wind turbine manufacturer said.
The transaction will create a global wind energy giant that according to Gamesa executive chairman Ignacio Martín will have a global installed capacity of 70GW, an order book valued at €21bn ($22.16bn) and revenue of about €10bn.
Siemens' merger with Gamesa will threaten rivalsRead more
EU competition authorities are expected to authorise the merger by 13 March, after the two companies notified the European Commission on 30 January, the spokeswoman said.
The merged company is expected to be able to take advantage of economies of scale due to its global production footprint and thus lower prices in the medium to long term, according to industry experts.
It is still unclear how or whether the company will incorporate Adwen – the former offshore wind joint venture between Gamesa and France’s Areva – that like Siemens offers an 8MW offshore machine.