Offshore Wind: AREVA Accelerates Its Development by Creating a European Champion with GAMESA to Become a Leading Global Player

  Offshore Wind: AREVA Accelerates Its Development by Creating a European
  Champion with GAMESA to Become a Leading Global Player

Business Wire

PARIS -- January 20, 2014

Regulatory News:

Today AREVA (Paris:AREVA) and GAMESA announced the entry into exclusive
negotiations to create a 50/50 joint-venture company in the field of offshore
wind power.

The offshore market represents one of the most promising areas for the
development of renewable energies, particularly in the coastal countries of
northern Europe, where the installed base should reach over 25 GW by 2020, and
in Asia.

By joining forces, AREVA and GAMESA will enable the JV to become one of the
leading players in the global offshore wind market, contributing to the
development of this growing sector through:

  *expertise, innovation and investments in R&D to develop competitive and
    reliable technologies of the future;
  *industrialization capacity and expertise in the development of a supply
    chain, both internal and external;
  *application of efficient onshore practices into offshore activities.

This JV will benefit from significant synergies:

  *on the one hand, the experience gained by AREVA since 2004 across several
    wind projects, notably through the ongoing installation of 120 5 MW
    turbines in the North Sea;
  *on the other hand, GAMESA’s comprehensive technological capabilities in
    onshore and offshore, leveraged on its 19 years leading track-record in
    the industry throughout the wind value chain. The company also has a
    strong capacity for industrialization, based on its proven knowledge and
    experience in supply chain development.

AREVA and GAMESA will pool personnel and offshore wind related technologies
and assets to the JV:

  *for AREVA, the German Bremerhaven (turbine assembly) and Stade (blade
    manufacturing) plants, as well as offshore wind technology and commercial
    contracts;
  *for GAMESA, existing multi-megawatt technologies applicable to offshore,
    the 5 MW platform and Arinaga turbine prototype, as well as offshore
    related engineering, operation and maintenance capabilities;
  *Additionally, the JV will enter into a preferred supplier agreement with
    GAMESA for some key components.

The JV will develop a best-in-class product portfolio aimed at covering
offshore market needs:

  *5 MW: the JV will continue to market AREVA’s M5000 turbine, which benefits
    from a strong track-record. Moreover, an enhanced 5 MW generation turbine
    will be developed in the short-term benefiting from the full potential of
    GAMESA's multi-megawatt cutting edge technologies;
  *8 MW: acceleration in the development of the next generation of turbines,
    benefiting from investment efforts undertaken to date by both parties and
    from the technological synergies of the JV.

From its launch, the JV will enjoy the confidence of numerous customers,
including Iberdrola*, which selected the M5000 turbine for its offshore farms
near Saint-Brieuc in France, and Wilkinger in Germany.
The JV will fulfill existing industrial development commitments both in the UK
and France, that have up until now been led by AREVA, which notably include
the creation of a turbine assembly and blades manufacturing plants at Le Havre
and the implementation of a network of sub-contractors and partners.

“By choosing to create a European offshore wind champion with GAMESA, AREVA is
playing a key role in the consolidation, already underway, of the offshore
wind sector, and confirms its long-term commitment to renewable energies,”
declared Luc Oursel, President and CEO of AREVA.

“This agreement with AREVA allows GAMESA to position itself as a market leader
in the offshore wind industry. The JV will provide GAMESA with an additional
profitable growth platform complementary with its 2013-2015 Business Plan and
which shall create material synergies with our onshore wind activities”,
declared Ignacio Martin, Chairman of GAMESA. “Likewise, this joint venture
will pave the way for the creation of a leading and cutting-edge company in
the offshore segment with know-how across the end-to-end wind energy value
chain.”

The definitive agreements concerning the creation of the JV will be signed
within the next few months following final negotiations between the parties
and discussions with personnel representative bodies at AREVA and GAMESA.

*Iberdrola has a 20% stake in Gamesa.

MORE ABOUT AREVA

AREVA supplies advanced technology solutions for power generation with less
carbon. Its expertise and unwavering insistence on safety, security,
transparency and ethics are setting the standard, and its responsible
development is anchored in a process of continuous improvement.
Ranked first in the global nuclear power industry, AREVA’s unique integrated
offering to utilities covers every stage of the fuel cycle, nuclear reactor
design and construction, and operating services. The group is actively
developing its activities in renewable energies – wind, bioenergy, solar and
energy storage – to become a European leader in this sector.
With these two major offers, AREVA’s 46,000 employees are helping to supply
ever safer, cleaner and more economical energy to the greatest number of
people.
www.areva.com

MORE ABOUT GAMESA

With a track record stretching back 19 years and installation of more than
28,000 MW in 40 countries under its belt, Gamesa has established itself as a
world technology leader in the wind power industry. Its end-to-end value chain
presence encompasses wind turbine design, manufacture, installation and
operations and management (19,800 MW).

Gamesa is also a global benchmark in the development, construction and sale of
wind farms. To date, it has installed almost 6,000 MW and currently boasts a
pipeline of 18,300 MW at varying stages of development in Europe, the Americas
and Asia.
www.gamesacorp.com/en

Contact:

PRESS CONTACTS:
AREVA
Alexandre Thébault, +33 (0)1 34 96 12 15
press@areva.com
or
GAMESA
Úrsula Guerra, +34 915031700
media@gamesacorp.com
 
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