Global wind power market to reviving mergers and acquisitions

Goldwind science and technology: 2015 with 7.8 gw of new power in the world, become the world's largest wind power machine manufacturers.According to the report data, Siemens and song beautiful sayin new company after incorporating new power capacity of 8.8 gw last year, more than goldwind science and technology as the world's biggest fan manufacturer.

For nearly a year, the internationalWind power market“Mergers and acquisitionsBefore war "has never been stopped. Nordex Acciona wind power acquisition, GE BladeDynamics and Alstom offshore wind power acquisition, and then to Vestas respectively in north wind power operations Upwind and Germany's operational Availon.

Recently, the German industrial giant, offshore wind overlord Siemens officially announced the acquisition of Spanish fan manufacturer song beautiful sayin, after the merger will become the world's biggest fan manufacturer.The indications are that the world's wind power market concentration in the future is expected to further increase over a period of time, competition is intense.

After m&a will become the world's biggest fan manufacturer

According to the agreement, the acquisition of Siemens will get new shares from the merged company, and holds a 59% stake.

Song mei sayin existing shareholders will hold 41% stake.

In addition, according to the arrangement, after completion of the acquisition of Siemens to song mei sayin shareholder (not including Siemens itself) to pay 3.75 euros per share in cash compensation (before the end of the m&a all paid extra ordinary dividends).According to this year on January 28th, closing prices, the compensation amount is 26% of the shares song mei sayin.According to industry estimates, the new market value will reach 10 billion euros.

The new company will be charged to Siemens financial statements.In march this year before 12 months as a benchmark, expects global new company has installed capacity of 69 gigawatts, no delivery order of around 20 billion euros, revenue of 9.3 billion euros, adjusted earnings before interest and tax of 839 million euros.Siemens is expected, in the fourth year after the deal was done, the synthesis of the new company earnings before interest and tax amount will reach 230 million euros.

It is understood that the merger plan got the song beautiful sayin board and the unanimous support of Siemens management committee.

Iberdrola company signed a shareholders agreement with Siemens, will be after the deal holds a stake of about 8% in the combined company.The deal is subject to shareholder approval, song mei sayin and meet other closing conditions, such as obtaining the Spanish national commission on the securities market (CNMV) licensing of merger control as well as after completion of the merger without approval of mandatory bid.The merger is expected to completed in the first quarter of 2017.

According to bloomberg new energy finance (BNEF) released data show that in 2015, goldwind science and technology with 7.8 gw of new power in the world, become the world's largest wind power machine manufacturers.Vestas ranked second, 2015 new power in 32 countries in the world, the installed capacity of 7.3 gw.GE in 14 countries around the world new power 5.9 gw, ranked third in the world, 62% of its new power capacity from the domestic market - the United States.

And Siemens global new total installed capacity of 5.7 gw in 2015, ranked fourth, which rely on offshore wind 2.6 gw of new power outstanding achievement continues to lead the global offshore wind power market.Song mei sayin, followed by new power also reached 3.1 gw.

According to the report data, Siemens and song beautiful sayin new company after incorporating new power capacity of 8.8 gw last year, more than goldwind science and technology as the world's biggest fan manufacturer.

In addition, after a ball and chain to merger Adwen company also have specific disposal scheme.

It is understood that the company is the song beautiful sayin a joint venture with French nuclear company areva.According to understand, to reach a deal with areva, song mei sayin areva Adwen relinquish the restrictive contract rights, simplifies the mergers and acquisitions.

, according to the arrangement of the merger agreement with Siemens coordinated, song mei sayin awarded areva in Adwen accounted for 50% of the equity in the company of the seller's option, also has the song beautiful sayin Adwen company accounted for 50% of the equity of the buyer's option.The two options for three months.As an alternative, areva also can exercise its right to forced sale sell Adwen company to a third party.

From multiple complementary products and technologies to market

There is no doubt that the acquisition from the global layout, the existing product portfolio or technology, Siemens and song beauty sayin there are highly complementary.For Siemens, is undoubtedly a strong synergistic effect.The personage inside course of study analysis, points out that Siemens is to want to borrow this to make up for in onshore wind existing and emerging markets.

This view makes sense.The reporter found, from the point of the current market share, the company's wind power business all over the world on multiple continents, especially in North America and northern Europe has a solid foundation.

Specific to the global offshore wind power market, Siemens is still in the European offshore wind market leading position.In European waters, according to the company held by the grid unit number (stand-alone capacity of 3 —— 6 megawatts) in 2015, a total of 476 new units, accounting for 62.7% of the new market share, has obvious advantages.

Absolute advantage compared with sea wind electric, Siemens for failing to achieve localization wind power business, in Brazil, Latin America and other emerging in recent years wind power market development is struggling.

Song mei sayin, in contrast, the performance of the emerging markets in Latin America is like a duck to water.

According to the Danish energy consultancy MakeConsulting release, according to data from 2014 to 2015, song mei sayin in Mexico has more than 70% market share.

In addition to the Mexican market, its sales in China of ratio rose to 15% from 5% in 2014, in India's sales continued to steadily increase from 27% to 28%, with the help of the successful merger, the company will cover all the important parts of the world market, production base in all continents, integrated product portfolio will also cover all wind power level, and be able to service all major market segments.

In addition, about the m&a impact on wind power market of our country, analysis in succession of the personage inside course of study thinks, this trade influence on wind power market in China is limited, after more than ten years of development, our country local fan manufacturers have firmly hold the Chinese wind power market.

Data show that by the end of 2015, our country contains goldwind, sinovel, combined power capacity, 5 Dan electric machine manufacturing enterprises has been more than 10 million kw, combined market share reached 56.8%, far more than the foreign countriesWind power enterprise。

Wind power in China renewable energy institute professional committee secretary general Qin Haiyan view, the domestic wind power enterprises and foreign enterprises on the same starting line, even though nearly a year the international wind power market deal more shouldn't blindly follow suit, should focus on their own research and development at the moment.

The original title: global wind power market to reviving mergers and acquisitions

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