Siemens Gamesa Wraps Up Windar Stake Sale

February 1, 2024, by Adnan Memija

Wind turbine manufacturer Siemens Gamesa has completed the sale of its 32 per cent shareholding in Spain’s Windar Renovables to Bridgepoint.

The sale was first announced in May of last year.

Siemens Gamesa to Sell Stake in Windar Renovables

Business & Finance

Bridgepoint is a quoted private asset growth investor, specialised in private equity and private debt. The parties have agreed not to disclose the purchase price.

Siemens Gamesa said that this sale is only logical for them, as it is important to focus on the absolute core business, as the priority at Siemens Gamesa is to achieve the turnaround.

“It is part of our strategy to divest non-core activities and to focus on our core businesses: design, manufacturing, installation and maintenance of wind turbines. This is what we are working on, step by step, to become a reliable and profitable company,” said Jochen Eickholt, Siemens Gamesa’s CEO.

According to Siemens Gamesa, the company will continue to be a strategic customer for Windar and will continue acquiring different types of substructures for offshore wind projects worldwide, such as monopiles, jackets, transition pieces and floating substructures, both semi-submersible and spars.

Founded in 2007 and headquartered in Avilés (Asturias), Windar Renovables operates several manufacturing plants located in Spain, Brazil, India, and Mexico.

Over the years, the company secured work on many offshore wind projects all over the world, with the most recent one being in Poland.