Berlin

GERMAN wind turbine maker Nordex is buying the wind power business from Spain's Acciona SA for 785 million euros (S$1.2 billion) in cash and shares to create a global player in the wind energy market, it said on Sunday. "In combining their activities Nordex and Acciona Windpower will create a truly global company and in doing so reduce exposure to demand swings in individual markets," Nordex said.

Nordex said that the two firms are complementary, with Nordex strong in Europe and specialised in complex projects, while Acciona Windpower is focused on the Americas and emerging markets, primarily in large-scale wind farms.