Spanish wind turbine manufacturer Gamesa Corporación Tecnológica has diversified its line of products to venture into new green technology investments in photovoltaic energies, energy storage, green mobility, energy efficiency and off-grid systems.
Over the next five years, Gamesa will invest up to 50 million euros to buy stakes in companies that are developing the most promising technologies for the next generation. The green technology investment is financed by a venture capital fund.
First in line, Gamesa plans to acquire 28.7% of SkyBuilt Power and the 25% of WorldWater & Solar Technologies, both specializing in off-grid solutions.
Other than the wind energy market, Gamesa also looks to expand its medium- and long-term growth and leadership in the green technology market such as the development of new renewable technologies.
To meet this goal, the wind turbine manufacturer has launched a technological diversification strategy in new renewable energies to participate in developing alternative sources of growth and capitalize on potential synergies with its manufacturing activities.
In the next 5 years, Gamesa will buy minority holdings in companies that develop technologies promising the highest potential for the future. The company is said to spend 50 million euros for the green technology investment through a corporate venture capital (CVC) fund.
Gamesa in return will offer market position, skill and experience in technology, manufacturing and finance and its local supply chain to companies. This is to boost market competitiveness and higher returns.
The wind turbine manufacturer may resort to a takeover on these companies to add something new to its product line or to increase its resources via divestiture on capital markets.
The other technologies to which Gamesa plans to focus its research and green technology investment include 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).
In the past couple of months, Gamesa has bought 28.7% and 25%-percent shares of SkyBuilt Power and WorldWater & Solar Technologies, respectively, as part of its green technology investment.
SkyBuilt Power specializes in the renewable off-grid solutions and fixed market, developing products that mix photovoltaic and mini-wind technologies, while WorldWater & Solar Technologies develops systems for pumping and purifying water.