Iberdrola, a generator and distributor of electricity, to acquire Acacia Renewables, an onshore and offshore wind developer, from Macquarie-backed Green Investment Group. Financial terms were not disclosed. The acquisition of the local renewable developer opens up the opportunity for Iberdrola to enter the Japanese offshore wind market which is in its early stages and has strong growth potential over the coming decades, with a favourable investment environment.Installed offshore wind capacity in Japan is currently around 70 MW, but the country has deployed a strategy to decarbonise its energy mix and promote energy independence. Forecasts indicate that the market will reach 10 GW installed in 2030 and up to 37 GW in 2050.