(Bloomberg) — SunEdison Inc. and Gamesa Corp. Tecnologica
SA, Spain’s largest turbine producer, have agreed to form a
joint venture to develop as much as 1 gigawatt of wind power by
2018.
Each company will own 50 percent of the venture, according
to a joint statement Thursday. Gamesa will supply equipment, and
build and maintain the wind farms. SunEdison will acquire the
finished power plants and sell them to TerraForm Power Inc., its
listed partnership for project investments, or yieldco.
Partnering with Gamesa means SunEdison is “particularly
well positioned to capture the opportunity in India and Mexico,
two regions where we already have a strong solar presence,”
Paul Gaynor, SunEdison’s executive vice president for the North
America utility and global wind unit, said in the statement.
To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net
To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Jim Efstathiou Jr., Carlos Caminada