Gamesa Corporación Tecnológica

Gamesa Corporación Tecnologíca, S.A.
Sociedad Anónima
Traded as BMAD: GAM
Industry Renewable energy
Founded 1976
Headquarters Zamudio, Biscay, Spain
Key people
 Ignacio Martin (Chairman)
Products Wind turbines, construction and sale of wind farms, solar energy products
Revenue €2.736 billion (2010)[1]
€119.0 million (2010)[1]
Profit €50.2 million (2010)[1]
Total assets €4.939 billion (end 2010)[1]
Total equity €1.629 billion (end 2010)[1]
Number of employees
 6,730 (average, 2010)[1]
Website www.gamesacorp.com

Gamesa Corporación Tecnológica (Spanish pronunciation: [ɡaˈmesa korpoɾaˈθjon teɣnoˈloxika]), formerly Grupo Auxiliar Metalúrgico, is a Spanish manufacturing company principally involved in the fabrication of wind turbines and the construction of wind farms.

It was formerly headquartered in Vitoria-Gasteiz, Spain, but subsequently moved in 2010 to Zamudio, Biscay in northern Spain. Gamesa develops, manages and sells wind farms, for which it also supplies wind turbines. It is the market leader in Spain and the fourth largest wind turbine manufacturer in the world (2011).[2]

The company has installed more than 10,000 MW of production in four continents, saving the equivalent of 51.9 millions of tons of carbon dioxide annually. It presently has over 20,000 MW of production in development in Europe, America and Asia and it is also involved in the construction and development of photovoltaic power stations.

In 2016 Siemens Wind and Gamesa reached agreement on a 59:41 merger of their wind turbine businesses.

History

Gamesa began operations in 1976 focused at that time on developing new technologies and applying them to emerging activities. These included robotics, microelectronics, aeronautics and the development of composite materials. In 1994, Gamesa Eólica was created as a subsidiary specializing in the manufacture of wind turbines. The company became involved in the development, construction and operations of wind farms in 1995 and completed its first wind farm the following year. Gamesa had a 7-year partnership with Vestas that ended in 2002.[3]

The Corporation was officially listed on the stock exchange on 31 October 2000 and joined the selective IBEX 35 on 24 April 2001.

Since 2006, the company has focused on technologies associated with sustainable energy, principally wind power. It has divested of its interests in aeronautics, which were sold off to form a new company known as Aernnova,[4] and in services, which were sold off to form a new company known as Global Energy Services.

As part of the United Kingdom's move to expand its production of offshore wind energy production, Gamesa has committed to the expenditure of £133.7M on a production factory and other facilities in the UK, and will also move its offshore wind division headquarters to London.[5][6]

In January 2014, Gamesa and French nuclear manufacturer Areva announced a preliminary deal to create a joint venture (Adwen) in the offshore wind power business.[7]

On 17 July 2016 Siemens AG and Gamesa announced they were to merge their wind businesses, with the two operations forming 59 (Siemens Wind) and 41% (Gamesa) of the resulting company's shareholding, with Siemens offering €3.75 per Gamesa share. The resultant company was to be headquartered in Spain, with an offshore operations headquartered in hamburg, Germany and Vejle, Denmark. Siemens was reported to have paid €1 billion ($1.13 billion) cash for Gamesa shares. Cost savings between duplicated functions in the two businesses was expected by Gamesa to save c. €230 million in the first year of operation. The combined business would be the largest wind turbine manufacturer worldwide by installed capacity (c. 69GW), exceeding Vestas and GE.[8][9][10]

Recognition

Gamesa is listed on the Dow Jones Sustainability Index,[11] the FTSE4Good Indexx[12] which is concerned with corporate social responsibility on the KLD Global Climate 100 Index, and on the Global 100 Index of the 100 most sustainable companies in the world.[13]

Current projects

Gamesa is involved in the construction of the Allegheny Ridge Wind Farm and the Mt Stuart Wind Farm.

Gamesa wind turbine installed at Bald Mountain in Bear Creek Township, PA

See also

References

  1. 1 2 3 4 5 6 "Annual Report 2010" (PDF). Gamesa. Retrieved 25 April 2011.
  2. ↑ IHS Emerging Energy Research. Gamesa back in wind top-five as GE drops out - analysts Global Wind Turbine Supply Market Share Evolution, 6 March 2012. Retrieved: 8 March 2012.
  3. ↑ "Two wind giants go head to head -- Vestas and Gamesa split". Windpower Monthly. 2002. Archived from the original on 14 February 2016. Retrieved 30 September 2016.
  4. ↑ Aernnova homepage
  5. ↑ Lawson, James. Can the UK Attract Offshore Wind Turbine Makers?, RenewableEnergyWorld.com website, May 27, 2011. Retrieved 6 June 2011.
  6. ↑ Gamesa. Gamesa In The Offshore Market, Gamesa.com website 6 June 2011.
  7. ↑ "Wind turbine firms Gamesa and Areva in joint venture". BBC. Retrieved 13 June 2014.
  8. ↑ Hirtenstein, Anna (17 June 2016), "Siemens, Gamesa Merge Units to Form World's Biggest Wind-Turbine Maker", www.bloomber.com
  9. ↑ Rodriguez, Jose Elias (17 June 2016), "Siemens, Gamesa to form world's largest wind farm business", www.reuters.com
  10. ↑ Siemens and Gamesa to merge wind businesses to create a leading wind power player (press release), Siemens, 17 July 2016
  11. ↑ "Sustainability Indices - Sustainability Indices".
  12. ↑ "Sorry, the page you are looking for is no longer available or does not exist.".
  13. ↑ "Global 100". Corporate Knights.

External links

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