Iberdrola Renewables Acquires Two Wind Power Projects
from Gamesa - Deal Analysis from GlobalData
Reference Code: GDAE0107M&A Publication Date: July 2011
1 Table of Contents
1 Table of Contents.................................................................1
1.1 List of Tables .................................................................1
1.2 List of Figures ................................................................1
2 Summary .............................................................................2
3 Iberdrola Renewables Acquires Two Wind Power Projects
from Gamesa .......................................................................2
3.1 Deal Overview ...............................................................2
3.2 Deal in Brief ...................................................................2
3.3 Comparable Deals.........................................................2
3.4 Key Drivers of the Deal .................................................2
3.5 About the Companies ....................................................4
3.5.1 Iberdrola ...............................................................4
3.5.2 Gamesa................................................................4
4 Appendix ..............................................................................4
4.1 Abbreviations.................................................................4
4.2 Methodology ..................................................................4
4.2.1 Coverage..............................................................4
4.2.2 Secondary Research ............................................5
4.2.3 Primary Research ................................................5
4.2.4 Modeling and Forecasting ....................................5
4.3 Contact Us.....................................................................5
4.4 Disclaimer......................................................................5
1.1 List of Tables
Table 1: Wind Energy Market, Comparable Deals, 2010–
2011 .........................................................................2
Table 2: Asset Finance Deals, Projects Acquired by Iberdrola
from Gamesa, Europe ..............................................3
Table 3: Abbreviations ............................................................4
1.2 List of Figures
Figure 1: Capital Expenditure for Renewable Energy Sources,
2010-2012, (€bn) ......................................................3
GDAE0107M&A /Published JUL 2011
Iberdrola Renewables Acquires Two Wind Power Projects from Gamesa Page 1
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2 Summary 3.3 Comparable Deals
Iberdrola Renovables, S.A (Iberdrola), entered the renewable
Table 1: Wind Energy Market, Comparable Deals,
energy market in Catalonia, with the acquisition of the Conesa II 2010–2011
and Savalla wind farms. These are the first two wind farms in
Deal Announced Acquirer
this autonomus region, with a total installed capacity of 50 MW. Headline
Status Date Company
These wind farms were developed by Gamesa and comprise 25
Enea Acquires 100%
G90 wind turbines. This acquisition will bring Iberdrola closer to Stake In Wind Power
their aim of becoming a key developer in the Catalonia region. Completed 31-Mar-2011 ENEA S.A.
Project In Pomorskie
Region, Poland
Another reason behind the acquisition of these two wind farms
BKW To Acquire 100%
is that this deal will help the company to further consolidate its
Equity Stake In
position in Spain. Apart from this, Iberdrola and Gamesa also BKW FMB
Franciosa Onshore Announced 27-Dec-2010
Energie AG
entered into a strategic agreement in 2008. Wind Farm From
Fortore Energia
3 Iberdrola Renewables Acquires Two GDF SUEZ To Acquire
Wind Power Projects from Gamesa 100% Equity Stake In
Announced 22-Dec-2010
GDF SUEZ
Pagow Wind Farm SA