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China Three Gorges Nears Deal for Dubai Renewable Firm Alcazar

  • Chinese firm in advanced talks on potential $500 million deal
  • Mubadala-backed Alcazar Energy develops wind, solar projects

State-owned China Three Gorges Corp. is nearing a deal to acquire Dubai-based wind and solar developer Alcazar Energy Partners, people with knowledge of the matter said, in one of China’s biggest pushes yet into Middle Eastern renewable energy.

A consortium led by Three Gorges is in advanced talks to buy Alcazar Energy for about $500 million, the people said, asking not to be identified because the information is private. An announcement could come as soon as the next few days, according to the people.