Login
Iberdrola expands renewable energy reach
International law firm Allens has advised Iberdrola on its acquisition of a renewable project pipeline in Vietnam.
Emma Musgrave
Firm: Allens (Iberdrola).
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Deal: Iberdrola has acquired two Vietnamese subsidiaries of German renewable energy group Sowitec.
Value: Undisclosed.
Area: Energy and resources, M&A.
Key players: The legal team advising Iberdrola was led by Allens projects and development partner Melissa Keane, with assistance from senior associate Huong Tan, and associates Ha Le and Thien Tran.
Corporate senior associate Hien Nguyen and associate Linh Nguyen also assisted on the transaction.
Deal significance: Iberdrola is a global energy leader.
The group’s acquisition of the two subsidiaries of Sowitec includes a 550-megawatt pipeline of green assets, comprising five onshore wind farms and one floating solar project under development.
“This is a significant transaction and is consistent with the increasing interest from foreign investors in wind and solar power in Vietnam in recent years,” said Allens lead partner Ms Keane.
“We are pleased to support Iberdrola in its growth as a renewable energy leader across the Asia Pacific and build on the work we have done for the business in Australia.”
