# Siemens Energy close to selling stake in Windar Renovables – source
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-05-19
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Siemens Energy Nears Sale of Windar Renovables Stake - Source
Meta Description: Siemens Energy close to selling Siemens Gamesa's 32% stake in Windar Renovables, with British fund Bridgepoint set to acquire wind turbine tower
URL: https://financedigest.com/siemens-energy-close-to-selling-stake-in-windar-renovables-sourcehtml

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(Reuters) – Siemens Energy is close to striking a deal to sell Siemens Gamesa’s 32% stake in Windar Renovables, a source close to the matter said on Friday.

Siemens Energy and Windar declined to comment on the matter, which was first reported by Spain’s Expansion newspaper.

The report said British fund Bridgepoint would buy wind [turbine](https://www.financedigest.com/wind-turbine-generator-market-is-expected-to-reach-net-valuation-of-more-than-us-90-7bn-during-forecast-period-of-2021-to-2031.html) tower manufacturer Windar Renovables for $700 million, taking over [Siemens](https://www.financedigest.com/siemens-picks-toyotas-vanderlande-as-buyer-for-logistics-unit-sources-say.html) Energy’s 32% stake and part of the the remaining 68% held by Daniel Alonso Group.

Bridgepoint was not immediately available for comment.

Pandemic-related [supply chain](https://www.financedigest.com/independent-consulting-study-reveals-that-content-supply-chain-challenges-obstruct-customer-continuity.html "Independent Consulting Study Reveals That Content Supply Chain Challenges Obstruct Customer Continuity") problems, competition and skyrocketing steel and aluminium prices – exacerbated by Russia’s invasion of Ukraine – have made manufacturing wind turbine components a tough business in recent years, despite strong demand from governments banking on wind energy to wean themselves off fossil fuels.

Siemens Energy is planning to buy the remaining 2% in its struggling [wind turbine maker](https://www.financedigest.com/wind-turbine-maker-vestas-cuts-2021-outlook-on-supply-constraints-and-costs.html "Wind turbine maker Vestas cuts 2021 outlook on supply constraints and costs") Siemens Gamesa during a two-day extraordinary shareholder meeting on June 12-13.

The [company’s shares](https://www.financedigest.com/exit-from-taiwan-lifts-shares-of-french-company-carrefour.html "Exit from Taiwan lifts shares of French company Carrefour") were up 0.6% as of 0840 GMT.

(Reporting by Christoph Steitz, Bartosz Dabrowski and Inti Landauro; editing by Rachel More)


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