Gamesa, a global technology leader in wind energy, has reached an agreement with China Huadian Corporation, one of China’s leading electric utilities, for the sale of the 28 MW Barchín wind farm located in Cuenca, Spain.
Under the terms of the agreement, Gamesa will provide the operation and maintenance services, as well as handling its commercial and administrative management.
Gamesa has had a close relationship with China Huadian Corporation for several years, underpinned by their joint participation in wind farms in China. Both companies plan to continue to analyse collaboration alternatives in the wind sector against the backdrop of China Huadian Corporation’s ongoing international expansion.
This agreement marks one of the first wind farms developed in Spain to be sold in the wake of the new energy reforms. The transaction falls under the scope of the 2014 disposal plan, which calls for select asset sales that contribute to the company’s cash flow generation and debt reduction targets.