Through this transaction, China Three Gorges Europe will enter Spain, one of the largest solar markets in the world.

The assets have been purchased from X-ELIO, which after the transaction will maintain a presence in its home market of over 2.0 GW.

X-ELIO is fully committed to the Spanish solar PV market where it operates through projects that create employment and support sustainable development through clean energy.

China Three Gorges Europe (CTGE) has reached an agreement to acquire a portfolio of 0,5 GW of solar PV power plants in Spain. The move will enhance CTGE’s presence in Europe in addition to its investments in Portugal, Germany, the UK and Greece. The power plants acquired by CTGE are new developments constructed between 2019 and 2020.This agreement has been reached between CTGE and X-ELIO, a global leader specialized in the development, operation and maintenance of solar PV energy projects.

The deal invigorates the Spanish energy market, and portrays a growing interest from international investors, attracted by the quality of assets, an interesting business landscape and a favorable legal framework.The transaction is still pending on customary regulatory approvals and is expected to be completed in the second half of 2020.Spanish based company X-ELIO remains committed to continue growing its presence in its home market. After this agreement, the company will maintain over 2.000 MW throughout different solar projects in different stages of development. These figures confirm the company’s contribution to the Spanish agenda towards renewable targets and sustainability with plans that will create employment in the different regions where X-ELIO has activity.In addition to its presence in Spain, X-ELIO has assets in operation and/or construction in USA, Mexico, Honduras, Chile, Italy, Japan and Australia.