The strings attached to the bargain include an agreement by EUFR to buy an undisclosed number of Gamesa Eólica turbines as well as to use Gamesa machines in the event of an extension to Coriscada. It also binds EUFR to using Gamesa's electricity trading agency, Wind 2 Market, should EUFR decide to trade its production on the wholesale market instead of selling it at a fixed premium under Spain's alternative wind support system. Such "framework" deals are an integral part of Gamesa's business model as competition for turbine sales in Spain heats up, particularly with Vestas and GE Energy. EUFR recently announced a plan to invest EUR 217 million over the next year or so in beefing up its renewables portfolio, mainly through wind. Before last month's deal, Gamesa had already lost a 33 MW contract with EUFR to Vestas.
Leading business intelligence for the wind community.
- In-depth news, analysis, market insight and trends.
- Take your 14 day free trial today.