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    IBE   ES0144580Y14


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PRESS RELEASE : Iberdrola acquires SOWITEC Vietnam with a portfolio of five wind projects under development and a floating solar project with a total of 550 MW

07/22/2021 | 04:01am EDT
DGAP-News: SoWiTec group GmbH / Key word(s): Mergers & Acquisitions 
Iberdrola acquires SOWITEC Vietnam with a portfolio of five wind projects under development and a floating solar 
project with a total of 550 MW 
2021-07-22 / 10:00 
The issuer is solely responsible for the content of this announcement. 
Sonnenbühl, 22. 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. 
The projects, with capacity between 50 MW and 250 MW, are scheduled to get their development completed between 2022 and 
2024 and will form part of the country's energy strategy, which plans to cover the growth of energy demand, mainly 
through renewable projects. 
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. 
The country foresees strong growth in electricity demand and GDP and maintains a free trade and foreign investment 
protection agreement, signed in 2020, with the European Union. 
"We are pleased to have found a strong investor for our Vietnamese project portfolio with Iberdrola. This sale is 
another important milestone and shows once again the great confidence in SOWITEC and in our projects", says Frank 
Hummel, CEO of SOWITEC. 
As one of the leading global project developers for renewable energies, SOWITEC is active in 14 countries with a focus 
on the rapidly growing emerging and developing countries. With almost 160 employees, SOWITEC covers all areas of solar 
and wind power project development: from planning and conception, energy and profitability calculations, through 
construction management, sales and financing to the technical and commercial management of wind and solar parks. More 
than 60 wind and solar projects with over 3,100 MW developed by SOWITEC are currently in operation or under 
construction in eight countries, while additional 2,000 MW have been sold to final investors and are currently under 
final structuring. 
About Iberdrola: 
Iberdrola is one of the largest global energy companies - the world's third largest by market capitalization and a 
leader in renewable energy - leading the energy transition towards a low-carbon economy. The group provides energy to 
nearly 100 million people in dozens of countries and conducts its renewable, grid and trading activities in Europe 
(Spain, UK, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia and, as 
growth platforms, maintains markets such as Japan, Ireland, Sweden and Poland. 
2021-07-22 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language:     English 
Company:      SoWiTec group GmbH 
              Löherstraße 24 
              72820 Sonnenbühl 
Phone:        +49 (0) 7128 3808-0 
Fax:          +49 (0) 7128 3808-38 
E-mail:       info@sowitec.com 
Internet:     www.sowitec.com 
ISIN:         DE000A2NBZ21 
WKN:          A2NBZ2 
Listed:       Regulated Unofficial Market in Berlin, Frankfurt, Munich, Tradegate Exchange 
EQS News ID:  1220866 
End of News   DGAP News Service 

1220866 2021-07-22

Image link: 

(END) Dow Jones Newswires

July 22, 2021 04:00 ET (08:00 GMT)

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