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4-Traders Homepage  >  Equities  >  Bolsa de Madrid  >  Iberdrola SA    IBE   ES0144580Y14

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Iberdrola : Gamesa Wins 325MW Iberdrola Turbine Order in Mexico

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01/22/2017 | 02:26pm CET

Gamesa has secured a 325MW turbine order from Spanish compatriot Iberdrola for the two wind projects the developer won in Mexico’s second renewables tender last year.

Gamesa will supply 84 of its G114-2.625MW units for Iberdrola’s 220.5MW Pier IV wind project in the state of Puebla, and 50 of its G114-2.1MW machines for the 105MW Santiago E?lico project in Guanajuato state. Both wind farms are due for commercial operation in spring 2019.

Already Mexico’s largest private electricity generator, Iberdrola emerged as a major winner in Mexico’s renewables tender last autumn, securing contracts for nearly 600MW of capacity, including two solar projects totaling 270MW—by far the largest solar arrays it has built in the country.

Iberdrola claims 5.8GW of generating capacity in Mexico today across various technologies, and claims to be on track to have 10GW in place by the end of the decade—surpassing its fleet of power plants in its home market of Spain.

Gamesa, meanwhile, claims to be Mexico’s current leading wind-turbine supplier, with nearly 1.9GW installed since it entered the Mexican in the late 1990s.

Gamesa has also found big success with its G114 platform in Brazil, where it recently notched 2GW of installed capacity thanks in part to its nacelle plant in the country.

In December Gamesa scored the debut order for its new G132-3.465MW turbine in Mexico, saying it will deliver 57 of the units to a power utility. Gamesa, which is in the process of merging with Germany’s Siemens, expects to begin serial production of new turbine line this year.

Mexico held two fiercely competitive renewables tenders in 2016, with solar surprising analysts by taking the lion’s share of the capacity up for grabs. The Mexican government recently forecast an operating solar fleet of 5.4GW by the end of 2019, a 20-fold jump on its current level, while the country’s wind capacity will grow more modestly to about 3.9GW.

(c) 2017 Universal Solutions S.A.E. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Sales 2016 32 725 M
EBIT 2016 4 477 M
Net income 2016 2 587 M
Debt 2016 28 640 M
Yield 2016 4,84%
P/E ratio 2016 14,75
P/E ratio 2017 14,20
EV / Sales 2016 2,07x
EV / Sales 2017 2,04x
Capitalization 39 066 M
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Average target price 6,54 €
Spread / Average Target 8,9%
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José Ignacio Sánchez Galán Chairman & Chief Executive Officer
José Sáinz Armada Chief Financial & Resources Officer
Íñigo Víctor de Oriol Ibarra External Director
Braulio Medel Cámara Independent Director
Samantha Barber Independent Director
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