Wind

Chinese wind turbine blade maker moves to snap up LatAm competitor

Sinoma is a long-time supplier of Chinese turbine making giant Goldwind, while Aeris has a framework agreement with Denmark's Vestas

Aeris has supplied Danish wind turbine giant under a framework agreement that the parties this year extended that agreement until 2028.
Aeris has supplied Danish wind turbine giant under a framework agreement that the parties this year extended that agreement until 2028.Photo: Aeris Energy
Journalist

Chinese wind turbine blade manufacturer Sinoma Blade has reportedly put in a bid for Brazilian competitor and Vestas supplier Aeris Energy.

Aeris confirmed on Tuesday that its shareholders have received an acquisition proposal from Sinoma, according to Brazilian news reports.

Aeris’ market capitalisation stands at R$312 million ($52m), with shares priced at R$5.12, reflecting a 71.5% decline this year, reports Brazilian business publication Valor International.

Sinoma based its valuation on figures from last December, ignoring Aeris’s recent drop in value, it reports, with the offer putting the enterprise value of Aeris at R$1.97bn, implying a share price of R$21.48.

Sinoma has reportedly proposed buying 60% of the shares from the Negrão family, which would maintain a minority stake. Valor International reports that the family is unimpressed by the offer, which comes with a 4 January deadline.

Sinoma entered the Brazil market in 2022 with the launch of its first international subsidiary. The first blade rolled off the production line of its new factory in December last year.

Sinoma has a long relationship with its Chinese compatriot Goldwind, one of the world’s leading turbine makers, which this year bought a Brazilian wind turbine factory. Both companies have their factories in Camaçari, a city near the coast in the northeastern state of Bahia, with Sinoma lined up to supply blades to Goldwind.

Aeris was founded in 2010 by a group of engineers from the aeronautics sector. The company also became a supplier in Brazil to Siemens Gamesa in 2021, initially as a sub-contractor to LM Wind Power, a unit of GE Vernova.

More recently, Aeris has supplied Danish turbine making giant under a framework agreement. In January, the parties extended that agreement until 2028, offering a potential $1.6bn boost to Aeris.

In addition to blades, Aeris has a specialised inspection and maintenance services division for turbines.

(Copyright)

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Published 12 December 2024, 12:38Updated 12 December 2024, 12:38
Aeris EnergySinoma BladeChinaBrazilAsia-Pacific