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Spain's Gamesa Agrees 200 Million Euro Wind Park Sale |
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| SPAIN: December 22, 2004 | ||
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MADRID - Spanish wind power firm Gamesa said on Tuesday it had agreed to sell six Spanish wind parks for over 200 million euros ($267.8 million) to Australian investment and advisory company Babcock & Brown.
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The farms have a total generating capacity of 158 MW, although four have not yet been completed. The other two are already in operation. The contract covers five years of maintenance, with an option to extend for another five years, and the management of the parks and sale of their energy, the firm said. The deal will not change the company's forecast for post-tax profit of 222 million euros in 2004, Gamesa added. The company also agreed to sell another series of wind farms with a total 450 MW of capacity to Babcock & Brown between 2005 and 2007, at a price equivalent to the one for this year's sale.
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REUTERS NEWS SERVICE
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