Insight – JV is a sign of the times

Gamesa's offshore prototype in situ in the Canaries

Gamesa's offshore prototype in situ in the Canaries

News of an impending joint venture between Areva and Gamesa is a sign of further consolidation to come in European offshore wind, said the director of the new Recharge Insight analysis service.

Recharge Insight had already predicted in its “Ten Surprises for 2014”, published in January, that further consolidation in the offshore sector would be necessary – and today it emerged that the French and Spanish groups are set to announce their JV on Monday.

Insight believes that there are not currently sufficient unallocated megawatts in the offshore pipeline to make proceeding with manufacturing investments an economic decision for all existing incumbents.

Additionally not all the incumbents have sufficient balance sheet strength to support their ambitions in offshore, nor necessarily the financial capability to provide the appropriate warranty guarantees needed to Log in to read complete article.

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