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(Bloomberg) — China Three Gorges Corp. is in talks to buy a German wind portfolio from NEAG Norddeutsche Energie AG, according to a person with knowledge of the matter.
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The assets are operational onshore wind farms with a total capacity of 312 megawatts, the person said, asking not to be identified as the information isn’t public. The portfolio has an enterprise value of about €300 million ($343 million) or higher, the person said.
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Deliberations are ongoing and there is no certainty the process will result in a transaction, the person said. Representatives for China Three Gorges and NEAG declined to comment when contacted by Bloomberg.
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A deal with NEAG would expand the Chinese energy giant’s presence in Germany, where it owns Meerwind, a 288-megawatt offshore wind farm in the North Sea, which it acquired in 2016 from Blackstone. Germany is Europe’s largest market for new wind additions, with a record 5.3 gigawatts of onshore projects added last year, according to research by BloombergNEF.
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Renewable energy developers in Germany are rushing to secure projects amid concern that government support for the green transition may start to dwindle. The first onshore auction of 2026 attracted more than double the available capacity, according to BNEF.
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China Three Gorges’s main market in Europe is Spain, where it has been acquiring wind and solar assets since 2021 and where its regional headquarter is located. The company is also the largest shareholder in Portuguese utility EDP SA, with 22%.
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