Siemens Gamesa €1.2 Billion Credit, Masdar Acquires Stake in Endesa, Leeward Renewable Energy Receieves Financing

Siemens Gamesa has received a €1.2 billion line of 'green' guarantees from the Spanish government along with a group of major banks. Masdar is finalizing a deal with Endesa to acquire a 49 percent stake in their 2, 000 megawatt renewable energy portfolio. Leeward Renewable Energy has secured $1.25 billion in financing for its construction warehouse facility. The Welsh government has established Trydan Gwyrdd Cymru, a publicly owned renewable energy developer. Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us! Pardalote Consulting - https://www.pardaloteconsulting.comWeather Guard Lightning Tech - www.weatherguardwind.comIntelstor - https://www.intelstor.com Allen Hall: I'm Allen Hall, president of WeatherGuard Lightning Tech, and I'm here with the founder and CEO of Intel store Phil Totaro and the chief commercial officer of WeatherGuard, Joel Saxum, and this is your News Flash. Newsflash is brought to you by our friends at IntelStor. If you want market intelligence that generates revenue, then book a demonstration of IntelStor at IntelStor. com. In Spain, Siemens Gamesa has received a crucial financial boost. The Spanish government and major banks have granted the company 1. 2 billion in green guarantees. This support will help Siemens Gamesa, which has been facing financial challenges, To back its wind energy projects, the company is also undergoing leadership changes with Vinod Philip, set to become the new CEO in August. So Phil, this backing by the Spanish government and banks within Spain is a welcome entrant into the Siemens Gamesa financial situation. Philip Totaro: It is and it's something that they've been asking for for a while in terms of receiving some level of support. It seems a little lower than what they wanted unfortunately for them. And keep in mind, this is almost like a, a line of credit type of thing. They don't have to necessarily tap into this unless they, they actually need it. First of all the second aspect of this is that, the unions are also going to be all over this saying, well, this is ample evidence that you can, keep us on board and keep paying us or it, as it turns out, may have been necessary for them to receive this funding to be able to keep the, the unions happy. So. We'll see how much of this they, they end up actually needing. This will presumably be part of their financial reports in the future. How they're, how they're putting these funds to use. But hopefully they don't need to tap into it too much and they can, get back to being a thriving company. Joel Saxum: My, my main concern with it is if it's a prop up or is it, is it real, right? So is this something that's going to really boost them along? Do they really need it? Is it too, is it too little too late or is it just going to sit in an account and not be used? So. I think that what you'll see from Wall Street and the investors and stock prices is going to be a little bit different than what reality is. Allen Hall: Abu Dhabi's renewable energy group, Masdar, is making moves in the Spanish market. After a failed bid for Nanergy, Masdar is now finalizing a deal with Endesa to acquire a 49 percent stake in the 2, 000 megawatt renewable energy portfolio. This could be one of the largest renewable energy deals in spain this year phil Philip Totaro: yeah this comes on the back of master making moves in europe as we've talked about on newsflash and on the uptime podcast previously so the reality of this is this is you know also uh kind of building on what we talked about last week with china.