Type Sociedad Anónima Industry Renewable energy Headquarters Zamudio, Spain Number of employees 6,730 | Traded as BMAD: GAM Revenue €2.736 billion (2010) Founded 1976 | |
Key people Ignacio Martin (Chairman) Products Wind turbines, construction and sale of wind farms, solar energy products Stock price GAM (BME) € 21.52 -0.09 (-0.39%)9 Mar, 5:36 PM GMT+1 - Disclaimer CEO Ignacio Martin (23 May 2012–) Total equity 1.629 billion EUR (end 2010) Subsidiaries Gamesa Eolica France Sarl | ||
Gamesa Corporación Tecnológica ([ɡaˈmesa korpoɾaˈθjon teɣnoˈloxika]), formerly Grupo Auxiliar Metalúrgico, is a Spanish manufacturing company principally involved in the fabrication of wind turbines and the construction of wind farms.
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It was formerly headquartered in Vitoria-Gasteiz, Spain, but subsequently moved in 2010 to Zamudio, Biscay in northern Spain. Gamesa develops, manages and sells wind farms, for which it also supplies wind turbines. It is the market leader in Spain and the fourth largest wind turbine manufacturer in the world (2011).
The company has installed more than 10,000 MW of production in four continents, saving the equivalent of 51.9 millions of tons of carbon dioxide annually. It presently has over 20,000 MW of production in development in Europe, America and Asia and it is also involved in the construction and development of photovoltaic power stations.
In 2016 Siemens Wind and Gamesa reached agreement on a 59:41 merger of their wind turbine businesses.
History
Gamesa began operations in 1976 focused at that time on developing new technologies and applying them to emerging activities. These included robotics, microelectronics, aeronautics and the development of composite materials. In 1994, Gamesa Eólica was created as a subsidiary specializing in the manufacture of wind turbines. The company became involved in the development, construction and operations of wind farms in 1995 and completed its first wind farm the following year. Gamesa had a 7-year partnership with Vestas that ended in 2002.
The Corporation was officially listed on the stock exchange on 31 October 2000 and joined the selective IBEX 35 on 24 April 2001.
Since 2006, the company has focused on technologies associated with sustainable energy, principally wind power. It has divested of its interests in aeronautics, which were sold off to form a new company known as Aernnova, and in services, which were sold off to form a new company known as Global Energy Services.
As part of the United Kingdom's move to expand its production of offshore wind energy production, Gamesa has committed to the expenditure of £133.7M on a production factory and other facilities in the UK, and will also move its offshore wind division headquarters to London.
In January 2014, Gamesa and French nuclear manufacturer Areva announced a preliminary deal to create a joint venture (Adwen) in the offshore wind power business.
On 17 July 2016 Siemens AG and Gamesa announced they were to merge their wind businesses, with the two operations forming 59 (Siemens Wind) and 41% (Gamesa) of the resulting company's shareholding, with Siemens offering €3.75 per Gamesa share. The resultant company was to be headquartered in Spain, with an offshore operations headquartered in hamburg, Germany and Vejle, Denmark. Siemens was reported to have paid €1 billion ($1.13 billion) cash for Gamesa shares. Cost savings between duplicated functions in the two businesses was expected by Gamesa to save c. €230 million in the first year of operation. The combined business would be the largest wind turbine manufacturer worldwide by installed capacity (c. 69GW), exceeding Vestas and GE.
Recognition
Gamesa is listed on the Dow Jones Sustainability Index, the FTSE4Good Indexx which is concerned with corporate social responsibility on the KLD Global Climate 100 Index, and on the Global 100 Index of the 100 most sustainable companies in the world.
Current projects
Gamesa is involved in the construction of the Allegheny Ridge Wind Farm and the Mt Stuart Wind Farm.