Three Gorges Is Said in Talks for Renewable Assets in Spain
- Deal could value renewable assets at up to 500 million euros
- China energy giant bought X-Elio Spanish solar assets in 2020
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China Three Gorges Corp. is in talks to buy Spanish renewable assets owned by a group of billionaires, as the Chinese energy giant seeks to double down on the southern European country, people with knowledge of the matter said.
The state-owned company is seeking to buy a portfolio of mostly wind energy assets in Spain with about 400 megawatts of capacity, in a deal that could be valued at 400 million euros ($480 million) to 500 million euros, the people said. Discussions are advanced and an agreement could be reached as early as this month, the people said, asking not to be identified because the deliberations are private.