Joint development and marketing of offshore wind turbines and services.
The Memorandum of Understanding aims for:
- a significant investment by GAMESA to become a minority shareholder in BARD
- the creation of a marketing joint venture, and
- the possibility that GAMESA may manufacture BARD offshore wind turbines under licensing contracts
BARD has developed one of the world’s largest offshore wind turbines (5 MW) and has a portfolio of 5,000 MW of offshore wind capacity under different stages of development in Germany and the Netherlands. BARD’s first offshore wind power station in Germany is currently under construction.
GAMESA has signed a Memorandum of Understanding (MoU) with BARD Holding GmbH for joint development and marketing of offshore wind turbines and services. The agreement envisages a significant investment by GAMESA for a minority stake in BARD and the creation of a joint venture to sell turnkey solutions and provide services in the offshore wind power market. The MoU may also enable GAMESA to develop manufacturing facilities to produce BARD offshore wind turbines under licensing contracts.
GAMESA and BARD have agreed on a negotiating period until the end of March to structure the collaboration.
The potential collaboration is highly strategic for both parties. It responds to GAMESA’s plans to continue offering technological solutions to market demand, accelerating it’s entrance into a key technology with major prospects for the future. The collaboration will further strengthen BARD’s international footprint in the offshore wind market, foster growth and could lead to relevant synergies.
“Working together, GAMESA and BARD will become leading players in the world’s offshore wind power market, by combining BARD’s technology and leading position in the German market with GAMESA’s industrial, financial and marketing muscle in the three markets that have most potential in the future, namely Europe, the USA and Asia,” said Jorge Calvet, Chairman of GAMESA.
“BARD welcomes the strong interest from GAMESA and believes that the envisaged collaboration provides great opportunities for the future growth of both parties.” said Heiko Ross, Managing Director of BARD Holding GmbH in Emden.