The agreement seals the 50/50 JV plan first announced in January by the turbine-makers.

Gamesa’s contribution to the JV is valued at €195m ($265m) and Areva’s €280m.

The new business will be led bygeneral managerArnaud Bellanger, current executive vice president of Offshore Wind at Areva, with Xabier Etxeberria, Gamesa’s business CEO, the joint venture’s chairman.

It will have an HQ in Zamudio, Spain, with the executive board based in Paris.

Areva