Siemens Gamesa to Buy Assets from Wind Turbine Maker Senvion

21 Oct 2019

German-Spanish wind energy company Siemens Gamesa (SGREN.MC) has agreed to buy selected European assets from insolvent German wind turbine manufacturer Senvion (SENG.DE) for 200 million euros ($223.04 million). 

Siemens Gamesa said the assets it is buying include a large part of Senvion’s European onshore services business, all its intellectual property as well as an onshore blade manufacturing facility in Vagos, Portugal. 

Senvion, which is in self-administration after becoming insolvent in April, said the deal would secure the jobs of more than 2,000 of its staff, close to 60% of the total, adding it was working on finding additional solutions.

Reuters |