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Bloomberg
Siemens Gamesa Renewable Energy agreed to sell its European onshore wind portfolio to Scottish utility SSE for $630 million.
It’s the first major
divestment for CEO Jochen Eickholt after he was promoted last month to try to turn the turbine maker around as project delays and cost overruns led to profit warnings.
The industry is grappling with soaring commodity costs and pandemic-related
disruptions to supply chains.
The deal includes 3.9 gigawatts of onshore wind projects in Spain, France, Italy and Greece.