Offshore Wind: Update on the Discussions between AREVA and Gamesa
June 17, 2016
Gamesa and AREVA have signed an amendment to the shareholder’s agreement for Adwen, the joint venture dedicated to offshore wind that is equally owned by the two groups.
According to the terms of the amended documentation, AREVA has three months to exercise one of the following options:
- Sell its share in Adwen to Gamesa, or
- Sell 100% of Adwen’s shares to a third-party investor which may submit a more attractive binding offer during this period; the sale of the entire capital is made possible by AREVA's drag-along right on Gamesa’s stake.
At the end of this 3-month period, AREVA will disclose the option selected for the divestiture of its shares in Adwen.
The commitments made by Adwen as part of the tender process for the offshore wind farms for electricity production in France will remain borne by Adwen.