Spain - Gamesa and BARD sign MoU regarding collaboration in the offshore wind market

BARD has developed one of the world's largest offshore wind turbines (5 MW) and has a portfolio of 5,000 MW of offshore wind capacity under different stages of development in Germany and the Netherlands. BARD’s first offshore wind power station in Germany is currently under construction.

GAMESA has signed a Memorandum of Understanding (MoU) with BARD Holding GmbH for joint development and marketing of offshore wind turbines and services. The agreement envisages a significant investment by GAMESA for a minority stake in BARD and the creation of a joint venture to sell turnkey solutions and provide services in the offshore wind power market. The MoU may also enable GAMESA to develop manufacturing facilities to produce BARD offshore wind turbines under licensing contracts.

GAMESA and BARD have agreed on a negotiating period until the end of March to structure the collaboration. The potential collaboration is highly strategic for both parties. It responds to GAMESA's plans to continue offering technological solutions to market demand, accelerating it's entrance into a key technology with major prospects for the future. The collaboration will further strengthen BARD’s international footprint in the offshore wind market, foster growth and could lead to relevant synergies.

"Working together, GAMESA and BARD will become leading players in the world's offshore wind power market, by combining BARD's technology and leading position in the German market with GAMESA's industrial, financial and marketing muscle in the three markets that have most potential in the future, namely Europe, the USA and Asia," said Jorge Calvet, Chairman of GAMESA.

“BARD welcomes the strong interest from GAMESA and believes that the envisaged collaboration provides great opportunities for the future growth of both parties.” said Heiko Ross, Managing Director of BARD Holding GmbH in Emden.

About BARD:
Founded in 2003 and headquartered in Emden, with manufacturing facilities in northern Germany and over 1,000 employees, BARD specialises in offshore wind power technology and adopts an end-to-end approach, from turbine design through manufacturing, logistics, and wind farm construction, operation and maintenance. BARD owns a wind offshore portfolio of 5,000 MW in different stages of development in Germany and the Netherlands. BARD has developed a 5 MW offshore wind turbine (certified by Germanischer Lloyd), one of the largest and most reliable turbines available in the market. Three prototypes have been installed in Germany since 2007. BARD’s R&D department is currently developing a new 6.5 MW offshore wind turbine, which will commence testing in 2010.

BARD’s first offshore wind power station is under construction and is due for completion in late 2011. The 400 MW offshore wind power station is located 100 km off the coast in 40 m water depth in the North Sea (Germany) with total expected construction cost of 1.4 billion euro.

About GAMESA:
GAMESA specializes in sustainable energy technologies, mainly wind power. GAMESA is the market leader in Spain and is positioned among the most important wind turbine manufacturers in the world.

GAMESA has installed over 16,000 MW of its main product lines in twenty countries spread out over four continents. The annual equivalent of this production amounts to more than 3.45 million tons of petroleum (TEP) per year and prevents the emission into the atmosphere of more than 24 million tons of CO2 per year. With a portfolio of almost 23,000 MW of wind power in different stages throughout Europe, America and Asia, GAMESA is also well positioned as one of the world's most important companies in wind farm development. The company has production centers located in Europe, Asia and North America with an international workforce of around 6,500 employees.

For more information please contact Trevor Sievert at ts@windfair.net