Sumitomo Corporation completed the acquisition of a 25.4% stake in IWS Fleet from Integrated Wind Solutions for €60m.

Sumitomo Corporation, a general trading company, completed the acquisition of a 25.4% stake in IWS Fleet, a walk-to-work vessels fleet provider, from Integrated Wind Solutions, a renewable energy company, for €60m. Sumitomo Corporation will contribute to IWS Fleet business expansion through its network of wind power developers and other global industry players, alongside the business expertise gained through its own ship business. Through partnership with IWS, Sumitomo Corporation will also promote the spread of offshore wind power on the supply chain side. As a result, it will also garner expertise in renewable energy businesses in Europe, a region leading the field, and channel it back to the offshore wind power market in Japan.