China Three Gorges to buy 500 MW of Spanish PV from X-Elio
Solar park in Spain. Featured Image: MilaCroft/Shutterstock.com
Madrid-based solar projects developer X-Elio Energy SL said it has reached an agreement on the sale of some 500 MW of photovoltaic (PV) plants in Spain to China Three Gorges Europe SA.
Financial details on the transaction were not released in a brief statement posted on X-Elio’s social media pages on Monday. Some Spanish media, citing financial sources, said that the subsidiary of Chinese state-owned power company China Three Gorges Corporation is to pay around EUR 500 million (USD 595m) for the assets.
Business daily Murcia Diario reported that the targeted portfolio contains 13 PV plants constructed between 2019 and 2020.
Following the agreement, X-Elio will maintain over 2,000 MW throughout different solar projects in varying stages of development, the company said.
X-Elio is owned 50/50 by Brookfield Renewable Partners LP (TSX: BEP.UN) and US private equity major KKR & Co Inc (NYSE:KKR).
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