Siemens Gamesa sells 3.8GW onshore wind development pipeline to SSE

Turbine maker Siemens Gamesa has closed the deal to sell a 3.8GW pipeline of onshore wind projects in southern Europe to SSE for a total cash consideration of €613 million.

The projects in the pipeline are based in France, Greece, Italy and Spain
The projects in the pipeline are based in France, Greece, Italy and Spain

The project sites are based in France, Greece, Italy and Spain, and could also host up to 1.4GW of co-located solar PV capacity.

Siemens Gamesa will “have the opportunity” to provide SSE Renewables with turbines and offer maintenance services for the projects, the turbine maker stated.

A team of around 50 employees has also been transferred to SSE as part of the deal.

Siemens Gamesa CEO Jochen Eickholt said the deal would help Siemens Gamesa to “optimise its portfolio of assets and maximise value”.

Stephen Wheeler, managing director of SSE Renewables, said the deal would help the utility to develop, build and operate onshore wind, solar and storage infrastructure.

The €613 million cash consideration consists of the €580 million purchase price – as reported in April 2022 – and €33 million in working capital and net debt adjustments, Siemens Gamesa explained.

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