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China Three Gorges to acquire 500 MW of X-Elio solar projects

China Three Gorges (Europe) SA has agreed to acquire 500 MW of solar projects in Spain from X-ELIO Energy SL. Financial terms of the deal were not disclosed.

After the completion of the transaction, Spain-headquartered X-Elio will still maintain more than 2,000 MW of solar projects, the company said in an Aug. 17 LinkedIn post.

Spanish newspaper Expansion reported in July that the Chinese power giant is in talks to acquire X-Elio from KKR & Co. Inc. and Brookfield Asset Management Inc. unit Brookfield Renewable Partners LP, in a deal that could be valued at over €500 million.

China Three Gorges is the European division of China Three Gorges Corp.