SunEdison, Gamesa sign MOU for 1 GW of wind power

SunEdison (NYSE: SUNE) and Gamesa (BME: GAM) have signed a Memorandum of Understanding (MOU) to create a joint venture to develop up to 1-GW of wind energy facilities, globally, by 2018. SunEdison and Gamesa will each own a 50 percent stake in the joint venture.

Gamesa will supply the wind turbines and provide operation and maintenance services of the wind power plants. Additionally, Gamesa may also provide engineering, procurement, and construction (EPC) services for the projects.

Upon construction, SunEdison will acquire the projects. SunEdison intends to place the power plants acquired from the joint venture on the call rights list for TerraForm Power.

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