SPANISH wind turbine manufacturer Gamesa is to issue more than 25 million new shares.

Funds raised by the sale of the shares will be invested in emerging global markets to extend the company’s international network.

The sale is estimated to be worth more than €250 million at current market prices, equivalent to 9.99% of the group’s capital.

Gamesa and France’s Areva previously agreed a joint venture with the intention of getting 20% of Europe’s offshore wind farm projects by 2020.