Spain-based Iberdrola SA has announced that it has acquired the Vietnam-based subsidiary of Sowitec, a renewables group, along with its 550 MW pipeline under development. Sowitec Vietnam’s portfolio includes five onshore wind and one 50-MW floating solar PV project. Financial details regarding the acquisition have not been disclosed.
The acquired projects range between 50 MW and 250 MW, with their development expected to take place between 2022 and 2024.