Areva’s board of directors is set to rubber stamp the sale of Adwen to Siemens this Wednesday after a fruitless race for a better offer for the offshore wind joint venture, according to sources.
Adwen’s future had been in the balance ever since Siemens had announced it would merge with the joint venture’s second stakeholder Gamesa. Areva had three months to find an alternative buyer for its 50% stake in the company.
It is understood, however, that offers from GE and Senvion were not as financially beneficial as the Siemens bid.
The German turbine provider will pay €60m for Areva’s share. The company has also said it would uphold Areva’s commitment to construct a blade and nacelle factory for the offshore wind energy sector in the French port of Le Havre.
Adwen is lined up to provide its 8MW wind turbines for Iberdrola’s 500MW Saint-Brieuc from France’s Round 1 and Engie’s 500MW Noirmoutier and 500MW Treport from Round 2.
Image: Adwen
