CTG negotiating purchase of 500-600 MW from X-Elio in Spain - report
X-Elio solar power plant in Iwate. Source: www.x-elio.com.
Chinese power company China Three Gorges Corporation (CTG) is holding talks to purchase photovoltaic (PV) assets in Spain from solar projects developer X-Elio Energy SL, Spanish business news outlet Expansion reported on Friday citing financial sources.
The price tag is said to be above EUR 500 million (USD 571.2m) for assets totalling between 500 MW and 600 MW of capacity, the report states. According to a report by Bloomberg, the deal encompasses 13 PV plants.
X-Elio is owned 50/50 by Brookfield Renewable Partners LP (TSX: BEP.UN) and US private equity major KKR & Co Inc (NYSE:KKR).
The Chinese state-owned company and X-Elio are ironing out details of the agreement and could announce a deal shortly, Bloomberg’s sources said.
Nevertheless, despite their advanced stage, the talks could still fall apart, people familiar with the deal told Bloomberg.
Founded in 2005, Madrid-based X-Elio has developed more than 2,000 MW of solar assets globally, according to its website.
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