Gamesa, Iberdrola End Strategic Agreement To Develop Wind Farms

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Gamesa and Iberdrola have each given official notice to Spain's National Securities Market Commission that they have agreed to end their strategic alliance for wind farm development due to the global economic downturn.

The strategic agreement, originally signed in June 2008 and amended in September 2009, envisaged a series of cross-linked options on some Gamesa wind farms in Spain and other countries in Europe, as well as the possibility of joint development and operation of wind projects in these areas.

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