SOWITEC group GmbH (“SOWITEC“) and Vestas Wind System A/S (“Vestas“) Agree on Minority Stake by Vestas of 25.1% with an Option to Acquire the Remaining Shares within the next Three Years
SOWITEC, one of the leading developers of renewable energy projects in the wind and solar sectors, is pleased to announce that it has entered, together with its sole shareholder Frank Hummel, into an agreement with Vestas about a participation of Vestas, a global partner in sustainable energy solutions that designs, manufactures, installs, and services wind turbines across the globe, in the amount of 25.1% of the share capital. As part of the agreement, Vestas will have the option to purchase the remaining stake in SOWITEC within three years from the closing of this transaction. ...
Another success for SOWITEC with the sale of a 200-MWac solar project in Brasil
The SOWITEC group, one of the leading developers of renewable energy projects in the wind and solar sector, has sold through his subsidy SOWITEC do Brazil a 200 MWac photovoltaic project in the state of Pernambuco to a major European power utility. Through this sale, the second major solar project is successfully sold within the past nine months, after a 400 MW project had already been sold to the same investor in May 2018. Both projects are part of a solar cluster with a total capacity of up to 1,000 MW...
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SOWITEC – the private sector voice
panelist in UNODC Convention in Vienna
SOWITEC had their voice in the last Conference of the States Parties in the United Nations Convention Against Corruption, 7th Session; held in Vienna-Nov 2017.Read more
Wind Project Catrihuala in Chile
SOWITEC Chile started an early participation process with an indigenous community in order to see if they are willing to go through the assessment of a wind power project on their land. It led to the second early social engagement agreement (AVP) promoted by the National Sustainability and Climate Change Agency. This process enabled the community to work along with other stakeholders, authorities and the company to build the trust needed to engage in the development of such a project. They concluded that their cultural heritage, environmental wealth and economic development are not threatened, but fostered by such an initiative from the renewable energy sector.
Solar Project Aurora in Chile
SOWITEC Chile realized the first early social engagement agreement promoted by the National Sustainability and Climate Change Agency, setting a new benchmark how local stakeholders can get involved previous to the implementation of renewable energy projects in Chile. The participation of the local communities led to a voluntary pre-investment agreement among all parties in July 2016. Two years later, in July 2018, the local communities, the company and authorities meet again to analyze the impacts of such a participation process on the local community.
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