Major Investment: Siemens Gamesa Strengthens Offshore Presence In The U.S. With Rotor Blade Facility

Zamudio, Spain - Together with representatives of state and local authorities and wind industry partners in Virginia, USA, wind turbine manufacturer Siemens Gamesa Renewable Energy has given the go-ahead for its first offshore rotor blade facility in the US.

With this milestone, Siemens Gamesa believes it has solidified its presence in the U.S. offshore wind market and its position as the world's leading manufacturer of offshore wind turbines. According to the RENIXX Group, it is also the first engagement of a global offshore wind turbine manufacturer in a U.S. based supply chain.

Siemens Gamesa will develop more than 32 hectares at the Portsmouth Marine Terminal in Portsmouth, Virginia, for rotor blade manufacturing. The wind turbine manufacturer has signed a long-term lease agreement for the site with the Virginia Port Authority. Virginia-based U.S. energy company Dominion Energy had previously selected Siemens Gamesa as supplier of wind turbines for the 2.6-GW Coastal Virginia Offshore Project wind farm complex.

The cost of building the rotor blade facility, including capital expenditures of more than $80 million for buildings and equipment at the Portsmouth Marine Terminal, Siemens Gamesa puts the total at more than $200 million.

After commissioning, the final production of the patented Siemens Gamesa Offshore Integral Blades will take place at the site. The wind turbine manufacturer states that approximately 260 jobs will be created at the site when the manufacturing is fully operational. To provide operations and maintenance services for the Coastal Virginia Offshore project, Siemens Gamesa plans to create about 50 additional service jobs. If Siemens Gamesa is awarded future projects in the region, the company may expand the facility and create additional jobs.

Siemens Gamesa's share price has fallen 0.4 percent to 22.20 euros in the first three days of the week compared with the previous week's closing price (closing price 10/27/21, Stuttgart Stock Exchange). In today's trading, the trend is turning around, and at midday the share is up 1.3 percent at 22.48 euros (10/28/2021, Stuttgart Stock Exchange).

Source: IWR Online, Oct 10 2021