hit tracker
Friday, March 29, 2024
HomeLatest NewsThe Government approves the largest purchase of China Three Gorges in Spain

The Government approves the largest purchase of China Three Gorges in Spain

Date: March 29, 2024 Time: 14:54:24

The Government has approved the sale by Nexwell Power and Ibox Energy, both companies of the Nexwell Group, of 619 megawatts (MW) of photovoltaic assets in China Three Gorges Spain. The operation became known in the summer of last year and the closing of the transactions allows the companies to begin cooperating in other areas of activity, such as the hybridization and optimization of assets, energy storage, new technologies, as well as the evaluation of investment activity. joint.

As reported by Nexwell Power, the solar megawatts sold to the Asian giant include, in a first phase already closed last December, the 50 MW Posadas (Córdoba) operational projects, and the 89 MW Manzanares (Ciudad Real) project , in addition to another 52 MW portfolio located in the provinces of Badajoz, Seville and Ciudad Real, which will begin to generate energy in the coming months. The rest of the projects until completing the 619 MW are located in the autonomous communities of Andalusia, Castilla-La Mancha, Valencia and Extremadura.

“trusted partner”

“The Nexwell team is proud to have closed another important transaction, where it has demonstrated its ability to execute and its extensive experience to become a trusted partner of China Three Gorges in Spain to help increase its position in the country within the sector of renewable energy. We will continue to invest in clean energy increasing efforts to contribute to the decarbonization of the planet. We look forward to and have great interest in continuing the long-term partnership with the CTG,” said Andreas Mustad, director of Nexwell Power.

China Three Gorges Europe is the one from which the Chinese group manages its operations in Spain and is led by Ignacio Herrero from Bilbao as CEO director. Along with this stands out the name of Tang Yuanjie, investment director of the Chinese group. CTGE is in turn a subsidiary of the CTG Group, the largest renewable energy holding company in China and which owns the world’s largest dam, called the Three Gorges Dam.

In Spain, the Chinese group currently owns and operates a portfolio with a total aggregate installed capacity of more than one gigawatt (GW) that has been increasing with operations in recent years. In August 2020, X-Elio (the former Gestamp) bought a total of 13 photovoltaic power plants located in Spain with about 500 megawatts (MW) of capacity and in February of last year it took over a portfolio of operational renewable projects in the country with a capacity of more than 400 MW that belonged to a consortium led by Corporación Masaveu.

At the end of 2021, another portfolio of 181 MW of wind power was obtained from EDP Renovables valued at more than 300 million – the Chinese company is the largest shareholder of the EDP parent company with close to 20% of the capital. It was already in the summer of last year when it sealed the purchase that has now been approved and in December it acquired a 104.5 MW solar power plant in Extremadura from Aldesa.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
RELATED ARTICLES

Most Popular

Recent Comments