Siemens Gamesa Renewable Energy announced the final acquisition of all shares in Ria Blades, S.A., the business entity which owns and operates the onshore wind turbine blade production plant in Vagos, Portugal, as well as other additional assets required to operate the facility. The completion of this acquisition means that the company has fully completed the acquisition of select assets from Senvion.
The manufacturing plant in Portugal offers best-in-class operational features and is well connected by both road and sea. The acquisition will help to strengthen Siemens Gamesa’s competitiveness in its onshore business by absorbing expected growth in production from external suppliers, mainly from Asia, and will become an export hub for international markets. It will further enhance existing manufacturing capabilities and limit the exposure to supply chain bottlenecks, volatility from foreign exchange markets and trade tariffs.
Closure of Senvion assets acquisition
Siemens Gamesa also announced the completion of the Senvion assets acquisition process. The integration of the Onshore European Service assets and Intellectual Property (IP) begun in early January 2020 and will strengthen Siemens Gamesa’s multibrand service portfolio, allowing the company to service an even broader range of wind turbine technologies.
The Onshore European Service unit acquisition added approximately 9 GW in service fleet in 13 European countries, bringing the total serviced fleet to around 69 GW globally, while diversifying the business mix and geographical representation in Europe, with contracts that have long-term visibility and high renewal rates.
The total purchase price for Senvion’s selected assets, including the manufacturing facility in Vagos, the Onshore European Services assets and IP is €200 million (subject to closing accounts confirmatory adjustments).