Asian tech giants 'interested in buying Siemens Gamesa stakes'

Two giant Asian companies are reportedly interested in buying stakes in the turbine manufacturer from majority owner Siemens

Shanghai Electric and Mitsubishi have reportedly contacted Siemens, which owns 67% of Siemens Gamesa

Siemens Gamesa’s Chinese partner and Mitsubishi have reportedly contacted Siemens about a possible purchase of stakes in the German turbine manufacturer.

Shanghai Electric and Japanese firm Mitsubishi – which is to be bought out of its offshore wind joint venture with Vestas – are among potential buyers according to Spanish business news site Expansion.

They have reportedly contacted German conglomerate Siemens, which owns a 67% stake in Siemens Gamesa.

The turbine manufacturer declined to comment, and WIndpower Monthly has also contacted its majority owner.

Shanghai Electric has used locally produced versions of Siemens Gamesa’s offshore wind turbines in China for a number of years through licensing agreements.

Meanwhile, Mitsubishi has partnered with Vestas in an offshore wind joint venture since 2013.

However, the two companies recently agreed for Vestas to buy out MHI from the joint venture, with Mitsubishi to own a 2.5% stake in the Danish manufacturer.

Siemens Gamesa’s share price has risen nearly 3% upon news of the interest from Mitsubishi and Shanghai Electric.