Areva update on Gamesa JV

FRANCE: Areva will continue its offshore wind operations via the planned joint-venture with Gamesa, the group confirmed today as it announced a record loss of €4.834 billion in 2014.

Areva is planning to build an 8MW turbine with Gamesa
Areva is planning to build an 8MW turbine with Gamesa

The group, which is 87% state owned, has been hit particularly badly by the general downturn in the nuclear sector and delays in building a nuclear plant in Finland.

Announcing plans to cut costs by around €1 billion in 2017, CEO Philippe Knoche said the group will "refocus on its core business, the mastery of key nuclear processes".

As part of Areva's strategy to divest non-core assets, its offshore wind business will be spun off into a joint venture with Gamesa, under a holding company dubbed Areva Wind Spain. The joint venture, under a different name, will be established by the end of March, the company said.

There is "no question" about the future of the two factories at Le Havre, Knoche said. Areva is contracted to supply turbines to the St-Brieuc, Le Tréport and Noirmoutier projects off the French coast.

This article has been updated

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in

Latest Offshore Wind Jobs