Siemens Gamesa wraps up acquisition of select European assets of Senvion
Siemens Gamesa Renewable Energy has completed the €200m acquisition of the European Service assets and Intellectual Property (IP) of German wind turbine manufacturer Senvion.
Through the deal announced in October 2019, the Spanish wind turbine manufacturer adds nearly 9GW of serviced fleet and operations across 13 countries. The transaction is said to mark a major step in Siemens Gamesa’s growth strategy, which is part of the L3AD2020 program with the addition of the Senvion assets further strengthening the company’s competitive position in its multi-brand portfolio.
Post-acquisition, Siemens Gamesa will now service an even broader variety of wind turbine technologies. The multi-brand footprint of the Spanish wind turbine manufacturer will increase to over 10GW and its fleet under maintenance will increase to nearly 69GW.
The additional assets are expected to help to diversify the business mix and geographical exposure of the company with contracts that give long-term visibility and renewal rates that have been very high historically.
Markus Tacke – CEO of Siemens Gamesa said: “This has been a unique opportunity for consolidation, a win for all parties and a perfect match for Siemens Gamesa. By integrating these assets and highly skilled professionals we will improve our position as a leading global service partner at a crucial moment for the wind industry’s growth.
“The transaction also offers Senvion’s customers a long-term solution for their servicing needs, following Senvion’s insolvency.”
As part of the transaction, Senvion Deutschland and its European subsidiaries were acquired and will now be operated within Siemens Gamesa Service Unit as a pure service provider.
Mark Albenze – CEO of Siemens Gamesa Service business said: “This acquisition is an important part of our strategy to grow our multi brand service business. Now that we’ve successfully closed the transaction, we will focus on the integration and ensuring that operations continue smoothly.
“By acquiring all relevant know-how and IP to access the SCADA and controller software, technical knowledge on spare parts supply and Senvion’s remote control center, we are well positioned to offer competitive service solutions to all of Senvion’s customers worldwide.”