Global renewables giant Iberdrola has planted its flag in the Japanese offshore wind market with a joint venture with finance giant Macquarie and the acquisition of a local developer that will advance fixed-foundation and floating projects.

Iberdrola will buy 100% of Acacia Renewables, a Japanese group owned by Macquarie with two offshore projects under development that could bring 1.2GW into service by 2028, and another 2.1GW