FRANKFURT/MADRID (Reuters) - General Electric <GE.N> and German wind turbine maker Senvion <SENG.DE> are preparing bids for French wind power group Adwen, which is jointly owned by Spain's Gamesa <GAM.MC> and France's Areva <AREVA.PA>, people familiar with the matter said.
German industrials group Siemens <SIEGn.DE> is due to take over Gamesa's 50 percent stake in Adwen as part of its 1 billion euro ($1.1 billion) deal to buy a majority stake in Gamesa. It has also made an offer for Areva's stake in Adwen.
However, under the terms of a side-deal agreed in connection with Siemens's buyout of Gamesa, Areva has until mid-September to look for an alternative buyer.
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The companies declined to comment.
Siemens Chief Executive Joe Kaeser said last month he believed his company's offer for Adwen was compelling.
"We took a lot of time to discuss the offshore projects in France with customers, where the risks are, where benefits could be, on so-called legacy projects that obviously have their challenges," he said.
"If we get the 50 percent that is fine, and if we don't, if someone puts a better offer there, they maybe deserve it."
Gamesa values its 50 percent equity stake in Adwen at 74 million euros, according to its 2015 annual report.
"Areva has a put option to sell its 50 percent stake to Gamesa for 60 million euros. I would be surprised if the premium offered would be massive," one of the people familiar with the matter said.
Adwen's products include an 8 megawatt offshore wind turbine, a machine with the largest annual energy production in the industry, for which the group has almost 200 orders already, according to the company website.
"But it's a prototype with production starting in two years time, and the orders aren't that fixed," one of the people said.
The merged Siemens-Gamesa wind company will have a market capitalization of around 10 billion euros, according to analysts, and would overtake Denmark's Vestas <VWS.CO> to become the world's biggest builder of wind farms by market share.
Vestas is not interested in buying Adwen, a company spokesman said.
(Reporting by Arno Schuetze, Jose Elías Rodríguez and Andres Gonzalez; Additional reporting by Georgina Prodhan, Teis Jensen and Benjamin Mallet; Editing by Mark Potter)