ACCIONA Windpower and Nordex complete merger to create new wind industry leader

ACCIONA has completed the sale of its wind turbine  manufacturing subsidiary, ACCIONA Windpower (AWP), to Nordex of Germany in a  cash-and-shares transaction valued at €785 million.

Following clearance by anti-trust authorities, all  contractual formalities have been completed. The transaction entailed the  acquisition by Nordex of AWP from its parent, Acciona S.A., in return for new  Nordex shares and cash. Alongside Nordex’s acquisition of AWP, Acciona S.A.  agreed to acquire additional Nordex shares from SKion and Momentum-Capital.  Following said steps, Acciona S.A will be the major shareholder in Nordex with  a 29.9% stake.

The integration of AWP into Nordex will create a new,  globally-positioned European powerhouse in the wind industry with manufacturing  facilities in Germany, Spain, Brazil, the United States and soon India. The two  companies generated combined sales of €3.4 billion in 2015 and have 4,800  employees.
    As part of the integration process, the Nordex Supervisory  Board will appoint two new members to its Management Board: José Luis Blanco as  COO/Deputy CEO, and Patxi Landa as Chief Sales Officer. The two managers had  previously held top positions at ACCIONA Windpower. Lars Bondo Krogsgaard and  Bernard Schäferbarthold remain on Nordex’s Management Board as CEO and CFO,  respectively.

Mr Krogsgaard said: “From today, Acciona Windpower and  Nordex are one combined company. We will now be directing all our efforts  towards ensuring that our customers in almost 30 markets benefit very quickly  from our new alignment.”
  Mr Blanco said: “The employees of Nordex and Acciona  Windpower are fully committed to the merger. We are a perfect fit in every  respect and, working together, face excellent prospects for the future.”

 The two wind turbine manufacturers have complementary  technologies and market footprints, with Nordex’s strong presence in Europe a  good match for ACCIONA Windpower’s established position in North and South  America. In total, the two companies have installed 18 GW of wind power  capacity in more than 25 countries.