SunEdison, the world’s largest renewable energy developer, and
Spanish wind energy giant, Gamesa, have announced the signing of a
Memorandum of Understanding to develop up to 1 GW of wind power plants
in a 50/50 joint venture. The
joint venture will aim to develop up to 1 GW of wind power plants by
2018, with the two companies each owning a 50% stake in the joint
venture.
The terms of the agreement state that ownership of the project will
be shared by the two companies through development, but upon initiation
of construction and once operational SunEdison will take ownership and
place them into its yieldco, TerraForm, to operate. Gamesa, for its part, will supply the wind turbines and be
responsible for subsequent operation and maintenance as part of
long-term O&M agreements. It is also possible Gamesa will be
responsible for engineering, procurement, and construction services for
the individual projects.
“This alliance with SunEdison falls under the umbrella of our new
Technology Development Programme within the 2015-2017 Business Plan and
will enable Gamesa to make the most of its technical and management
experience, reinforcing its leadership as developer,” said Xabier
Etxeberria, Gamesa’s Business CEO. “The combination of both companies’
strengths would also unlock synergies and maximise project returns.”
“This agreement will accelerate SunEdison’s drive to respond to rapid
growth in global wind markets,” said Paul Gaynor, SunEdison Executive
Vice President of the Americas and EMEA. “By partnering with Gamesa, one
of the world’s leading wind technology and development companies, we’re
particularly well positioned to capture the opportunity in India and
Mexico, two regions where we already have a strong solar presence.” “This strengthens our position in the global wind energy market,”
said Carlos Domenech, President and Chief Executive Officer of TerraForm
Power. “This joint venture reinforces our commitment to emerging
markets.”
http://cleantechnica.com/2015/07/02/sunedison-games-form-joint-venture-develop-1-gw-wind/