Gamesa is determined to ensure its medium- and long-term growth and leadership in the energy technology market both in the wind business (land-based and offshore) and in the development of new renewable technologies that offer high growth potential in the medium and long term.
To this end, the company has launched a technological diversification strategy in new renewable energies which will enable it to participate actively in alternative sources of growth, capture innovation and complement and capitalise on potential synergies with Gamesa’s manufacturing activities.
To channel this new strategy, Gamesa will establish a corporate venture capital (CVC) fund, through which it will invest up to 50 million euros in the next five years to buy stakes, initially minority holdings, in start-up or growth companies engaged in the development of technologies promising the highest potential for future growth.
In return, Gamesa will offer the companies its market position, skill and experience in technology, manufacturing and finance and its local supply chain to achieve greater market competitiveness and, in consequence, higher financial and strategic returns. In the medium and long term, Gamesa will consider taking the companies over, either as new business lines or as sources of value via spin-offs on capital markets.
Interest focuses on six key technologies
Gamesa is interested in six key technologies around which it will base its research and investment decisions in international markets: wave (converting tidal currents and waves into energy); next generation photovoltaic energy (converting the sun’s photonic energy into electricity); energy storage designed to guarantee high-quality supply; green mobility (electric vehicles); energy efficiency (maximising energy use while minimising consumption); and off-grid (small renewable generation units that are not connected to power grids, for use in remote locations).
The company in recent months made its first purchases as part of its venture capital strategy, buying 28.7% and 25%-percent stakes, respectively, in US-based companies SkyBuilt Power and WorldWater & Solar Technologies, both of which specialise in off-grid solutions:
* SkyBuilt Power: provides solutions in the renewable off-grid and fixed market. The company has developed products that mix photovoltaic and mini-wind technologies;
* WorldWater & Solar Technologies: markets solutions for the mobile off-grid renewable market. The company has developed systems for pumping and purifying water and capturing energy not used for other purposes.
( gamesa )
[mappress]
Source: gamesa, May 20, 2011