Bloomberg News

Gamesa Enters Finnish Market With 18-Megawatt Wind-Turbine Deal

October 11, 2012

Gamesa Corp. Tecnologica SA (GAM), Spain’s biggest wind-turbine maker, expanded into the Finnish market by agreeing to supply 18 megawatts of machines to TuuliWatti Oy.

Gamesa will install four turbines at the Simo wind farm in northern Finland, the Zamudio-based manufacturer said today in a statement, without disclosing terms. The accord with TuuliWatti, a venture between Finland’s St1 Oy and S-Group, includes an option for a further 117 megawatts at four sites.

Finland, while lagging behind neighboring Sweden and Norway in wind power, approved an incentive program in March 2011 aimed at raising capacity more than 10-fold by 2020. That’s lured companies such as Gamesa, which has looked abroad for expansion after Spain shut off aid for renewable power.

The Simo turbines are due to begin operating late next year. The wind farm is part of TuuliWatti’s 400 million-euro ($515 million) investment plan, according to the statement.

To contact the reporter responsible for this story: Sally Bakewell in London at Sbakewell1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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