Gamesa Establishes VC Fund, Plans Expansion Into Solar Energy

Gamesa, a Spain-based designer and manufacturer of wind turbines, says it has launched a technological diversification strategy in new renewable energies, including solar energy.

The company will establish a corporate venture capital 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 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. The company says it is primarily interested in PV and five other key technologies.

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