Spain's Gamesa sells US assets for $888 million
MADRID (AP) — Gamesa Corporacion Tecnologica SA, Spain's largest wind turbine manufacturer, says it has agreed to sell wind power projects in the United States to Algonquin Power & Utilities Corp. of Canada for $888 million.
The four electricity generating facilities involved are in the states of Illinois, Texas, Iowa and Pennsylvania .
Gamesa's CEO, Jorge Calvet, says Friday the sale of the 480 megawatt portfolio maximized "the value of our portfolio of wind farms, in this case in the United States."
The two companies also signed an agreement to jointly study future wind power projects in the U.S. and Canada.
