Areva and Gamesa Creating Offshore Joint Venture

GALWAY, IRELAND--July 16, 2014 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) Areva S.A. (ENX:CEI) (Paris, France) and Gamesa Corporation S.A. (MCE:GAM) (Vitoria-Gasteiz, Spain) have set out plans to capture 20% of Europe's fast-growing offshore wind sector by signing a deal to create a 50-50 joint venture company.

The new company will combine both groups' offshore businesses with Gamesa contributing assets worth approximately €195 million ($265 million) and Areva's assets at €280 million ($381 million).