Siemens, a German multinational conglomerate, agreed to acquire an 8.1% stake in Siemens Gamesa Renewable Energy, a provider of the offshore and onshore wind turbines and services from Iberdrola, a Spanish multinational electric utility company, for $1.2bn. “2020 is a pivotal year in which climate protection has reached the top of the global agenda. We are convinced that the energy transition offers many opportunities for Siemens Energy. With our diverse and constantly growing renewables portfolio we can deliver tailored solutions for low carbon leaders and energy seeking countries alike,” Michael Sen, Siemens AG Member of the Managing Board.