Areva, Gamesa to form offshore JV

France’s Areva and Spanish wind group Gamesa are poised to announce a joint venture in the offshore wind sector, Recharge can confirm.

The two companies will hold a 50% stake each in the venture, which will be formally announced on Monday.

The alliance has been confirmed to Recharge by a source at one of the partners.

An industry source told Recharge: “This is good news because it brings together the strengths of both companies while matching the financial strength of Areva to the relative financial weakness of Gamesa.”

While declining to confirm the deal, a Gamesa spokesperson in Madrid said: “We have said on various occasions that the way to move forward is through a alliance with a strategic partner.”

Areva recently unveiled plans for an 8MW offshore turbine as part of its ambitions in the next round of French offshore wind concessions.

Gamesa has been testing its 5MW offshore machine in the Canary Islands.

Gamesa in 2010 entered talks to buy into the German offshore wind group Bard, but the negotiations faltered and the Spanish group walked away.

Gamesa was also at one stage in talks with Suzlon over a possible stake or acquisition.

The JV would follow the alliance late last year between Vestas and Japan's Mitsubishi Heavy Industries.