China Three Gorges to acquire a 619MW solar portfolio from Nexwell Power and Ibox Energy.

China Three Gorges, a Chinese state-owned power company, agreed to acquire a 619MW solar portfolio from Nexwell Power, an investment group that focuses its human and financial capital, and Ibox Energy, a solar energy company in Madrid, Spain. Financial terms were not disclosed. “We view Spain as one of the most attractive and well-regulated solar markets in Europe and we believe the Nexwell and Ibox projects are among the highest quality assets in the market. Today’s 619MW acquisition will be transformational for CTGS, bringing our total solar PV presence in Spain to just over 1GW for the coming years, a strong complement to CTG’s global wind and hydro portfolio. We look forward to working with such a professional team and organization to deliver on this transaction and tackle new challenges and opportunities in the energy transition,” Ignacio Herrero, China Three Gorges Europe CEO.