Vestas takes strategic leap with acquisition

With possible full acquisition in the future, the wind turbine manufacturer buys into a developer with 25 GW on the books – half of which are solar-based. This presents new growth opportunities, the company states.

Photo: Vestas

Vestas is increasingly playing the role of main contractor. The wind turbine manufacturer has made an agreement with German project developer Sowitec to buy a 25.1 percent stake with an option to acquire the entire company within the next three years. The acquisition will present new opportunities for growth, outside of wind energy, in selected countries and in cooperation with customers, states Vestas.

"With the acquisition of a minority stake in Sowitec, Vestas gains access to an independent development entity that strengthens our co-development portfolio and improves our solutions and capabilities in strategic markets in Latin America," says Juan Araluce, chief sales officer at Vestas, in the press statement.

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