12 November 2002 – Spanish windpower company Grupo Auxiliar Metalurgico SA or Gamesa, has agreed to sell wind farms with a power capacity of 252 MW to Electrabel for approximately €320m ($319m).
The wind farms will start operating in 2004-2006 in Portugal, and Gamesa will install in the wind farms turbines made at its own Gamesa Eolica unit. The operation is part of Gamesa’s strategy to promote and sell wind farms without increasing the company’s debt burden.
Electrabel is a subsidiary of Tractebel SA which itself is a unit of France’s Suez group.
Gamesa provides products and services in the aeronautics and renewable energy fields.