China Three Gorges enters Spanish energy market with solar plants buy


MADRID: China’s state-owned energy and infrastructure giant China Three Gorges (CTG) has agreed to buy 13 Spanish solar plants built by Madrid-based renewables firm X-Elio, marking its entry into the Spanish energy sector, X-Elio said. The expansion into Spain follows CTG’s purchase of a 23% stake in Portugal’s largest utility EDP-Energias de Portugal, which has provoked concerns in the United States and some European countries over China’s growing influence in the sector. The photovoltaic plants were built between 2019 and 2020, and are fully operational with a total capacity of just over 500 megawatts, X-Elio said, adding the deal was signed.