JEC COMPOSITES MAGAZINE - Issue #116 - October 2017 - 36

WIND ENERGY market news

Merger of Gamesa and Siemens Wind Power
The merger between Gamesa and the fiscal year ended December
Siemens Wind Power became ef- 2016. Based in Zamudio (Spain),
fective on 3 April 2017, after the it will keep trading on the Spannew entity was registered with the ish stock market, becoming one of
Biscay Mercantile Register (Spain), the biggest industrial companies
the last step required to close the of the blue-chip index Ibex 35. Sietransaction announced in June mens will own 59% of the merged
2016.
company's share capital. Iberdrola
Siemens Gamesa Renewable En- will hold 8%, and the rest will be
ergies will be a global leader in the free-floating shares.
wind power industry, with an in- The legal domicile and global headstalled base of 75 GW, a presence quarters of Siemens Gamesa will
in more than 90 countries, and an be in Spain, with onshore offices
industrial foothold in key wind in Spain and offshore headquarters
markets. The merged entity starts in Hamburg (Germany) and Vejle
out with a €21 billion backlog, pro (Denmark).
forma revenues of €11 billion and
€1.1 billion of adjusted EBIT for
www.gamesacorp.com
GE completes acquisition of LM Wind Power
GE announced on April 20 that it onshore and offshore wind customhas completed the acquisition of ers. The deal will be accretive to GE
LM Wind Power, a Denmark-based earnings in 2018.
technology developer and manu- LM Wind Power will be run as an
facturer of rotor blades to the wind individual operating unit within
industry. The transaction was com- GE Renewable Energy, providing
pleted following regulatory approv- blades for both GE's onshore and
al in the European Union, the Unit- offshore wind business units. LM
ed States, China, and Brazil.
Wind Power will also continue
GE reached an agreement with the to supply blades to the rest of the
London-based private equity firm wind industry, having established
protocols and safeguards to protect
customers' confidential data.
With this deal, GE
continues to deepen its capabilities
and ambitions in
renewable energy.
In the past year,
GE has delivered
Doughty Hanson in October 2016 the first offshore wind farm in the
to purchase the company for €1.5 US, won its first offshore project in
billion ($1.65 billion). The trans- China, launched its onshore digital
action in-sources wind turbine wind farm and digital hydro plant,
blade design and manufacturing for and developed hybrid projects in
GE's Renewable Energy business, wind-solar and hydro-wind.
improving its ability to increase
energy output and create value for
www.ge.com

jec composites magazine / N°116 October 2017

WWEA and KWEIA work together
to boost Korean wind market
On 9 August, WWEA and KWEIA signed a joint research agreement to boost the onshore and offshore
wind market in Korea. To that end, several leading markets will be analysed to identify policies that help to
promote wind power and accelerate the deployment of
wind farms. The conclusions of the research will serve
as guidance for the Korean government in making its
decisions.
So far, the Republic of Korea has played only a marginal
role in the global wind sector, in terms of both domestic
installations and industrial capacities. However, following the election of President Moon earlier this year, the
country is now facing a fundamental shift in its energy
policies. The country has already switched off several
coal power stations and plans to phase out nuclear power as well. At the same time, the country will accelerate
the deployment of renewable energy, including wind
power, which will play an important role in the future
power supply.
Stefan Gsänger, WWEA Secretary General: "We are
delighted that we can assist our Korean colleagues and
the Korean government in building up a strong domestic
wind sector. Experience from other leading wind markets can well serve as guidance on which way the country
should go. We believe that a clear focus on a 100% renewable energy supply will not only be good for the environment, but also will strengthen the country's economy and improve economic prospects for urban and rural
communities in Korea."

Prof. Choong-Yul Son, Chairman of the Subcommittee
of KWEIA and WWEA Vice President: "Today, the Korean wind market offers new opportunities, and we are
pleased that with the support of WWEA and its international expertise, we can build the wind industry of our
country. Both onshore and offshore wind farm investment will be scaled up in the coming year, and the midterm target is an installed capacity of 15 GW. To achieve
this, we will learn from other countries that have already
reached such a milestone."
www.wwindea.org

http://www.gamesacorp.com http://www.ge.com http://www.wwindea.org

Table of Contents for the Digital Edition of JEC COMPOSITES MAGAZINE - Issue #116 - October 2017