Iberdrola buys Japan’s Acacia, enters wind JV with Macquarie

Spain’s Iberdrola has bought Japan-based renewables developer Acacia and signed a joint venture deal with Macquarie’s Green Investment Group to develop an offshore wind farm portfolio.

Iberdrola and its new partner will develop offshore wind projects with a capacity of 3.3 GW. The acquisition is part of the 10 billion euros ($11.8 billion) Iberdrola plans to invest this year in renewable energy, smart electric grids and systems to store electricity.

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