Renta 4 | The United States International Trade Commission (USITC) has ruled in favour of Siemens Gamesa (SGRE) on the issue of the complaint submitted by General Electric regarding the patents of some of the components of wind turbines. The USITC has denied GE’s claims. The ruling affirms that Siemens Gamesa did not infringe any intellectual property rights with respect to the Zero Voltage Ride Through Patent.
That said, the USITC did rule against Siemens Gamesa with regard to the Low Voltage Ride Through Patent. However, the turbines which would be affected by this decision are no longer imported.
We recall that there is still a lawsuit pending about offshore patents which, in this case, Siemens Gamesa filed against GE. The ruling is expected in April this year.
Valuation: A positive piece of news. And it reaffirms the declarations made by Siemens Gamesa’s management team over its conviction that its components do no infringe any intellectual property right, in a country which is key to the firm’s plans over the next few years.
We reiterate our Underweight stance, Target Price 17,52 euros/share