February 11 (Renewables Now) – German mechanical drive systems producer Flender has sealed a deal to acquire Finnish wind turbine gearbox maker Moventas from investor N4 Partners in a push to expand its own wind drives operations.
Based in Jyvaskyla, central Finland, Moventas designs, manufactures and services gearboxes for wind turbines and boasts an installed base of 22 GW. Its acquisition will boost Flender’s wind drive business which under the Winergy brand supplies gearboxes, generators and services for wind turbines and has already passed 200 GW in delivered gearbox capacity.
The deal will add to Flender’s existing wind drive business a production and service network with an assembly capacity of 3 GW as well as capabilities in the area of services and gear manufacturing, the German company said on Thursday.
“Moventas is a well-known brand in the wind industry. We are very fond to have their expertise and capacities under our roof now. It lets us further expand our wide product portfolio for the growing wind market to support the important energy transition,” said Flender’s chief executive Andreas Evertz.
The transaction, which is subject to regulatory approval, is expected to close in the summer of this year. Its financial terms remained under wraps.