AREVA has acquired a 51% stake in Multibrid, a Germany-based designer and manufacturer of offshore wind turbines. With this acquisition, AREVA has entered into a joint venture with Prokon Nord, a German offshore wind turbine and biomass plant developer and current owner of Multibrid. This transaction values Multibrid at 150 million euros.
The company plans to develop Multibrid's current activities by giving the company access to its industrial resources, financial base and international commercial network. In return, Multibrid will provide AREVA with its 5 MW wind turbine technology.
AREVA says it plans to increase its presence in the offshore wind market with this acquisition. The transaction is subject to the approval of the German federal antitrust office.