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Three Gorges to Buy Billionaires’ Spanish Renewable Portfolio
Bloomberg 2/22/2021 Bloomberg News
(Bloomberg) China Three Gorges Corp. agreed to buy Spanish renewable assets from a group of billionaires, as the Chinese energy giant seeks to double down on the southern European country.
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State-owned Three Gorges will acquire 100% of a portfolio of more than 400 megawatts of operational plants from a consortium led by Corporacion Masaveu, backed by the wealthy Spanish family of the same name, it said in an emailed statement received Monday. The assets include 11 wind farms and one solar plant, according to the statement.
Bloomberg News reported earlier this month that the Chinese company was in advanced talks to buy the assets. Other sellers include Korys Group, the investment arm of Belgium’s billionaire Colruyt family, as well as Exus Management Partners and a group of Portuguese minority investors, the statement shows. The deal is expec