Gamesa to Supply TuuliWatti Up to 285 Megawatts Turbines

Gamesa Corp. Tecnologica SA, Spain’s largest wind-turbine maker, signed a deal to supply as much as 285 megawatts of machines to TuuliWatti Oy, the second framework agreement in 13 months with the Finnish developer.

Gamesa will supply TuuliWatti with as many as 57 of its 5-megawatt G128 and G132 turbines in 2015 and 2016, Zamudio-based Gamesa said today in an e-mailed statement. The devices are designed to operate in low temperatures and will be the most powerful in Finland, it said.

The deal adds to an earlier agreement that Gamesa reached with TuuliWatti in October 2012. That deal was for the supply of as much as 135 megawatts of turbines, with 119 megawatts of firm orders already materializing, Gamesa said.

“This new agreement marks a new milestone in Gamesa’s strategy in the Scandinavian wind energy market,” it said. “The growth prospects for the Finnish market for the years ahead are among the highest in Europe.”

Gamesa rose 3.6 percent to 7.307 euros by 12:55 p.m. in Madrid. It has more than quadrupled in value this year after posting a profit in the first two quarters following its first losses last year since it sold shares to the public in 2000.

Finland set up a system of feed-in tariffs, or guaranteed power prices, in March 2011 designed to help boost wind capacity to 2,500 megawatts in 2020, according to Gamesa. Current installations are about 200 megawatts, it said.

In a separate statement, Gamesa said it secured its first ever order in Mauritania. The company will install 15 G97 2-megawatt devices at Nouakchott, the north African country’s first commercial wind farm, Gamesa said. The farm is being built by Elecnor SA for the Mauritanian public utility Somelec, Gamesa said.

Before it's here, it's on the Bloomberg Terminal.