Gamesa's board of directors has decided to end the company's negotiations with Germany's Bard. For the short and medium terms, Gamesa will develop a strategy for the offshore wind market using in-house resources.
Gamesa and Bard began talks at the end of February with the goal of combining potential synergies. However, during the course of negotiations and detailed study of the potential transaction, both parties have found a significant discrepancy in the terms of the deal, according to Gamesa.
The board's decision does not affect the offshore strategy Gamesa designed in October 2009, through which the company aims to play a significant role in this market in the medium and long term. The company's offshore strategy is geared toward ensuring that Gamesa capitalizes on demand in the Northern European market, specifically the U.K, beginning in 2015.
Using its multi-megawatt turbine technology, which has already been tailored for the G10X-4.5 MW system, Gamesa is currently at work to develop two families of offshore wind turbines.
SOURCE: Gamesa
