Gamesa enters agreement with Santander for the joint development of several wind farms in Mexico, to which it will supply 500 MW

Gamesa, a global technology leader in wind energy, has reached an agreement with Santander for the joint development of a series of wind farms in Mexico with total installed capacity of up to 500 MW.

Under the agreement, Gamesa will handle the development and construction of the wind farms along with the supply and installation of all the projects' wind turbines (up to 500 MW), reinforcing its position as the leader in turbine manufacturer and assembly in Mexico.

The projects will be developed under the self-supply regime and under the framework of Open Season II, which is being spearheaded and coordinated by the Mexican Energy Regulatory Commission (the CRE for its acronym in Spanish) and the Federal Electricity Commission (CFE).

This agreement - to which Santander is contributing El Sauzal (200 MW)- positions both companies as the most important investor group in the Mexican wind energy sector. The projects will be developed over the course of the next three years in the state of Oaxaca, one of Mexico's windiest regions and the area in which almost all of the wind farms in operation and the bulk of the current pipeline are located.

This agreement consolidates Gamesa's leadership position in Mexico, where, in addition to developing and on-selling wind farms, it supplies, installs and services wind turbines. The company has installed over 1,000 MW of wind power capacity in Mexico. It also services close to 800 MW in the country under O&M agreements. In its capacity as developer, it has built 244 MW and has a pipeline of close to 550 MW.