Gamesa will make a “significant investment” for a minority stake in Bard and the creation of a joint venture to sell turnkey offshore wind solutions and services.

The MoU could also give Gamesa the right to develop manufacturing facilities for producing Bard offshore wind turbines under licensing contracts.

The agreement envisages a significant investment by GAMESA for a minority stake in BARD and the creation of a joint venture to sell turnkey solutions and provide services in the offshore wind power market. The MoU may also enable GAMESA to develop manufacturing facilities to produce BARD offshore wind turbines under licensing contracts.

"Working together, Gamesa and Bard will become leading players in the world's offshore wind power market, by combining Bard's technology and leading position in the German market with Gamesa's industrial, financial and marketing muscle in the three markets that have most potential in the future, namely Europe, the USA and Asia," says Jorge Calvet, Chairman of Gamesa.

Gamesa and Bard have agreed on a negotiating period until the end of March to structure the collaboration.

Gamesa and Bard

Gamesa of Spain specialises in sustainable energy technologies, mainly wind power.

Bard of Emden, Germany, specialises in offshore wind power from wind turbine design through manufacturing, logistics, and wind farm construction, operation and maintenance. BARD has developed a 5 MW offshore wind turbine and is currently developing a new 6.5 MW offshore wind turbine, which will commence testing in 2010.