SunEdison and Gamesa to Develop 1 Gigawatt of Wind Power by 2018

SunEdison Inc. and Gamesa Corp. Tecnologica SA, Spain’s largest turbine producer, have agreed to form a joint venture to develop as much as 1 gigawatt of wind power by

2018.

Each company will own 50 percent of the venture, according to a joint statement Thursday. Gamesa will supply equipment, and build and maintain the wind farms. SunEdison will acquire the finished power plants and sell them to TerraForm Power Inc., its listed partnership for project investments, or yieldco.

Partnering with Gamesa means SunEdison is “particularly well positioned to capture the opportunity in India and Mexico, two regions where we already have a strong solar presence,” Paul Gaynor, SunEdison’s executive vice president for the North America utility and global wind unit, said in the statement.

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