Spanish turbine component manufacturer exits Russian market
Spanish company manufacturing components for turbines has exited the Russian market (Photo: windar-renovables com)
The Spanish company manufacturing towers for wind turbines, Windar Renovables, has exited its joint venture in Russia. Consequently, the country has left the market of the aggressor state, according to Reuters.
The changes came into effect on December 29, resulting in Windar becoming another Western company to exit Russia.
Windar was considering selling its 51% stake in the joint Russian venture to its partner and steelmaker Severstal. This was reported earlier by Reuters, citing sources.
"Severstal, which holds a 49% stake in the JV, declined to comment. Windar had no immediate response," the material writes.
Windar Renovables
The company, part of the Daniel Alonso Group based in the Principality of Asturias, Spain, was established in 2007 to become a global leader in manufacturing wind turbine towers.
Companies that haven't exited Russia
Today, Ukraine has added the American multinational fast-food franchise Subway to the list of international sponsors of the war. The company continues its business in Russia.
