Aluminium giant Hydro further boosted its growing renewables portfolio by taking an 80% stake in a 2.4GW portfolio of wind projects in Sweden and Norway.
The Norwegian metals group bought the stake in the 23-project portfolio from developer IOWN, which will keep the remaining fifth and act as a long-term partner to Hydro.
Financial terms were not disclosed for the deal, which was made via the group’s Hydro Rein renewables subsidiary.
