Hydro Rein has reached an agreement with the Swedish renewable energy developer IOWN Energy (IOWN) to acquire an 80 percent stake in a 2.4 GW portfolio of wind power projects under development in Sweden and Norway.
The portfolio comprises 23 projects in Sweden and two in Norway. According to the terms of the agreement, Hydro Rein and IOWN will commence a long-term partnership to co-develop these projects, with ownership divided 80 percent for Hydro Rein and 20 percent for IOWN. These projects are in the early stages of development, with a considerable number of land lease agreements already in place. Hydro Rein and IOWN will collaborate to advance the development of these projects, engaging closely with host municipalities, landowners, and local communities. The two partners aim to make their initial investments before 2030.
