Gamesa Sells Solar Unit To Private Equity Firm

Gamesa Corporacion Tecnologica SA has sold its Gamesa Solar unit to private equity firm First Reserve Corp. for a total consideration of 261 million euros. Gamesa Solar is a solar energy company in Spain focusing on the development, construction and sale of solar PV plants, as well as providing turnkey project management for third parties.

‘We are very excited about this investment opportunity,’ says Francesco Giuliani, director of First Reserve. ‘Gamesa Solar has a leading position in the Spanish photovoltaic market, which is among the most sophisticated in the world. We plan to support the solar team in replicating this presence internationally.’

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