Alstom: the government is considering entrusting offshore wind Areva
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The state could ask General Electric to sell Alstom offshore turbines Areva. The giant does not believe in this market.
After Arnaud Montebourg mail sent Monday to General Electric (GE) to signify that his offer could not be acceptable "as is", and statements of François Hollande Tuesday, the government is working to cushion the impact of dismantling of Alstom. According to our information, the government would, in the case of a successful bid of GE Alstom, the activity offshore wind latter is recovered by Areva. "There is an interest in having one French player in this sector," explains a government source.
The nuclear group has, too, developed in the offshore turbines and battle against Alstom in calls for tenders French - it was he who is coming off the supply of turbines for the two fields last call offers unveiled Wednesday by the Minister of Energy Ségolène Royal. Alstom had won his side with EDF in 2012 the supply of turbines for the first three wind farms in French sea.
Negotiations with GE would be facilitated by the lack of enthusiasm of the conglomerate American on the activity of the offshore wind Following his meeting with French Holland late April, the CEO of GE, Jeffrey Immelt, was ready and said " to consider any acquisition proposal from French investors for onshore and offshore wind Alstom activities. " "GE does not believe in the offshore," says an industry source.
A bit obvious industrial interest
If this track continues, one of the topics will be the value of this activity, Areva with very little financial leeway. "All in good time. It is sure that there would be a financial issue, but they are not dizzying amounts, "says the government source. "Alstom's offshore, it is mainly yet development costs and huge technological risks," says the industry source.
It will also demonstrate the industrial relevance of such acquisition. Face a tougher than expected market, Areva has set up a joint venture with Spanish Gamesa to share the development costs of its turbines. However, prior to this combination, Areva had studied an alliance with Alstom, before renouncing it, the two turbines using different technologies and thus limiting synergies.
Moreover, the two French actors remain small behind Siemens. Last year, the German giant is awarded according to Reuters about 60% of the European market for offshore wind last year. For its part, Alstom has not installed any wind at sea, while Areva hopes to have 120 installed by the end of the year, off the German coast. An alliance would have more interest if it led to rationalize production facilities promised by the consortium French local elected officials. But back to these commitments employment and activity would probably be very difficult politically.