Gamesa, a wind power company based in Spain, has sold wind power assets to Spanish utility Iberdrola in the U.S. for a maximum of 3.3 billion euros ($4.19 billion).
According to Gamesa, the deal includes 2,700 MW of wind power generators for about 2.3 billion euros and the sale to Iberdrola of as much as 1,000 MW of wind farm capacity in the U.S. for between 700 million and 1 billion euros.
The purchase of the wind farm assets also includes 500 MW of capacity that Gamesa will bring into production before the end of 2009, the company says. Of these, 300 MW are firmly committed, while the remainder will be subject to a preferential acquisition agreement right. The other 500 MW relate to purchases that Iberdrola may make as Gamesa brings capacity online.