DGAP-News: Iberdrola acquires SOWITEC Vietnam with a portfolio of five wind projects under development and a floating solar project with a total of 550 MW
July 2021 - SOWITEC Group sells its Vietnamese operations to Iberdrola whose strong commitment to markets with growth potential in Asia Pacific reinforces a favorable outlook for the final stages of development and implementation of the 550 MW renewable portfolio under development by Sowitec Vietnam, distributed in six projects: five wind farms and a 50 MW floating photovoltaic project.
- July 2021 - SOWITEC Group sells its Vietnamese operations to Iberdrola whose strong commitment to markets with growth potential in Asia Pacific reinforces a favorable outlook for the final stages of development and implementation of the 550 MW renewable portfolio under development by Sowitec Vietnam, distributed in six projects: five wind farms and a 50 MW floating photovoltaic project.
- SOWITEC has been active in Vietnam since 2017 and founded a local subsidiary: SOWITEC Vietnam.
- The portfolio is located in various Vietnamese provinces and was developed by the local team of SOWITEC.
- Vietnam foresees the installation of more than 20,000 renewable MW before 2030 which will require foreign investment.