Per Alstom press release:
Alstom is taking a significant step into wind power generation with the signature on 25 June 2007 of an agreement to buy Spanish wind turbine company, Ecotècnia, for 350 million euros (debt free/cash basis).
Ecotècnia, headquartered in Barcelona, designs, assembles and installs a wide range of onshore wind turbines spanning 640 kW to 2 MW. It is currently developing new wind turbines with a capacity of up to 3 MW. The company has taken a significant part of the development of the Spanish wind energy market, which is ranked second in Europe, and currently generates about 50% of its sales from other European countries.
To date, Ecotècnia has installed or is installing more than 1500 wind turbines in 72 wind farms, corresponding to a total capacity of 1,433 MW (about 2 % of the worldwide installed base). Ecotècnia has also recently become active in the field of solar panels, playing an important role in the Spanish market.
Ecotècnia employs 765 people in its five factories in Spain. In 2007, Ecotècnia should achieve sales between 300 and 350 million euros, with an estimated Ebitda margin of 7%.
This acquisition, when completed, will consolidate Alstom’s position as the company with the broadest and most complete range of products and systems in power generation, including gas, coal, hydro, wind, solar and conventional islands for nuclear power plants. This acquisition will strengthen Alstom’s offer in renewable energies, including hydro power where Alstom is the worldwide leader.