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13 June 2008 - Spanish wind-turbine maker Gamesa has reached a deal to provide wind turbines, construction and services worth €6.3bn ($9.7bn) to Iberdrola Renovables, the renewables unit of Spanish power utility Iberdrola.
The deal is the largest wind power deal in the world ever, Iberdrola Renovables said in a release.
The wind turbines will have a joint potential to generate 4.5 GW in wind parks in Europe, Mexico and the US, Gamesa said in a note to the Spanish stock market regulator.
Gamesa, based in Bilbao, northern Spain, is one of the world's largest wind- turbine makers. Iberdrola Renovables is the world's biggest wind power generator.
"Securing such a large deal is positive for Gamesa, and good for Iberdrola as it guarantees it supply in a tight market," said David Garcia, an analyst with Bankinter in Madrid.
The contract guarantees Iberdrola Renovables 70 per cent of its wind turbine needs until 2012, the company said.
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