Gamesa sells 4 U.S. wind parks for $900 million

Gamesa, one of the world's top wind turbine groups, will develop and build the wind parks, which will have a combined capacity of 480 megawatts.

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Agence France-Presse

Fri, Mar 09 2012 at 5:53 AM

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Wind Power, Energy

GAMESA: President Obama speaks at a meeting in 2011 at Gamesa Technology Corporation. Gamesa had a wind farm pipeline of 23,891 megawatts worldwide at the end of 2011, including 3,500 megawatts in various stages of development and completion in the U.S. (

Spain's Gamesa said on Friday it had agreed to sell four wind parks in the United States to Canada's Algonquin Power & Utilities for about $900 million.

The price of Games shares surged by more than 15 percent after the announcement.

Gamesa, one of the world's top wind turbine groups, will develop and build the wind parks, which will have a combined capacity of 480 megawatts, Gamesa said in a statement.

The wind farms will be equipped with 240 of Gamesa's G9X-2.0 MW turbines and will be located in the states of Illinois, Iowa, Pennsylvania and Texas.

"Furthermore, Gamesa and Algonquin Power & Utilities have entered into a collaboration agreement to pursue additional wind power development opportunities in the US and Canada," the statement said.

Gamesa had a wind farm pipeline of 23,891 megawatts worldwide at the end of last year, including 3,500 megawatts in various stages of development and completion in the United States.

It currently has some 30 factories in Europe, the United States, Brazil, China and India. The firm employs some 8,000 people around the world.

Algonquin Power & Utilities is a utility company with over $1.2 billion dollars in assets across North America.