In this episode of NewsFlash, we discuss FairWind's acquisition of Wind 1000 to expand its wind installation business internationally. Acciona Energía is selling wind and solar assets to raise capital for future projects, Repsol ordered turbines from Vestas for a new wind farm in Spain. And Ambuja Cement, owned by the Adani Group, announced plans to invest over $700 million in renewable energy to decarbonize its operations. These deals highlight continued consolidation and growth in the global renewable energy industry.



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Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Tech, and I'm here with the founder and CEO of IntelStor, Phil Totaro, and the chief commercial officer of Weather Guard, Joel Saxum, and this is your News Flash. News Flash is brought to you by our friends at IntelStor. If you need actionable information about renewable projects or technologies, check out Intelstor at intelstor.com.



FairWind, a global provider of wind turbine installation and service solutions, is going to acquire Wind 1000. Wind 1000 is a Spain based regional leader in onshore wind installations in southern Europe and South America. The acquisition aligned with FairWind's global expansion strategy into wind 1000s regions.



The combined company expects to grow to a workforce of over 2000 people globally and approaching 1. 5 billion in combined revenue. Phil, this is a big merger of service providers over in Europe.



Philip Totaro: Yeah. And it's interesting because while we've seen a lot of like supply chain and independent service provider consolidation, the EPC companies haven't necessarily been gobbling each other up or merging all that much. But the fact that FairWind wanted to be able to entertain international expansion, this is a fairly good fit, I think, for them in that strategy.



Joel Saxum: Yeah. And so doing any kind of international business, you understand that, some cultures just like to work together.



The Spanish culture, Latin American culture, South American culture is one of them, right? Like the, it's hard to make inroads into those countries if you don't have, if you don't speak language, if you don't understand the culture, if you're not a part of it. So tying that up at the top level is going to enable FairWind's expansion into those countries that are strategically hard to get a foothold in if you're an outsider. Great job by FairWind, enabling that expansion.



Allen Hall: Acciona Energía, a major Spanish renewable power company, has hired BNP Paribas to sell its assets. Acciona is planning to sell 308 megawatts of wind capacity and 370 megawatts of solar project potential at roughly 500 million euros.



It comes as Acciona looks to raise cash from asset sales in 2024 to reduce debt. Phil, this is becoming more and more common as some of these energy providers have older assets and they're trying to bolster their books and maybe look towards projects in the future. They need cash, so you need to get rid of those older facilities.



You need to find somebody to help you sell them, usually.



Philip Totaro: Yeah, and keep in mind too, this is an asset portfolio in Spain that is, you know, basically has seen full net positive return on capital during its lifetime already. It's getting close to the age where they're going to repower it. And so they want to be able to move that merchandise.