SunEdison, Inc. and Gamesa have signed a Memorandum of Understanding (MoU) to create a joint venture to develop up to 1 gigawatt (GW) of wind energy power plants globally by 2018. SunEdison and Gamesa will each own a 50 percent stake in the joint venture.
Under the terms of the agreement, Gamesa will supply the wind turbines and be responsible for operation and maintenance (O&M) of the wind power plants as part of long term O&M agreements. Gamesa may also provide engineering, procurement, and construction services for the projects.
Ownership of the projects will be shared during development; upon construction SunEdison will acquire the projects from the joint venture. SunEdison will purchase additional wind turbines from Gamesa, based upon development volume targets achieved by the joint venture.
"This agreement will accelerate SunEdison's drive to respond to rapid growth in global wind markets," said Paul Gaynor , SunEdison executive vice president of the Americas and EMEA. "By partnering with Gamesa, one of the world's leading wind technology and development companies, we're particularly well positioned to capture the opportunity in India and Mexico , two regions where we already have a strong solar presence."