It's probably nothing.
A couple stories a few weeks apart. First up, from Bloomberg, February 22:
Three Gorges to Buy Billionaires’ Spanish Renewable Portfolio
China Three Gorges Corp. agreed to buy Spanish renewable assets from a group of billionaires, as the Chinese energy giant seeks to double down on the southern European country.
State-owned Three Gorges will acquire 100% of a portfolio of more than 400 megawatts of operational plants from a consortium led by Corporacion Masaveu, backed by the wealthy Spanish family of the same name, it said in an emailed statement received Monday. The assets include 11 wind farms and one solar plant, according to the statement.
Bloomberg News reported earlier this month that the Chinese company was in advanced talks to buy the assets. Other sellers include Korys Group, the investment arm of Belgium’s billionaire Colruyt family, as well as Exus Management Partners and a group of Portuguese minority investors, the statement shows. The deal is expected to be completed before the end of the second quarter.
Three Gorges had been discussing a valuation of about 400 million euros ($486 million) to 500 million euros for the portfolio, people with knowledge of the matter have said. The Chinese group worked with FTI Capital Advisors on the deal.
The investment follows Three Gorges’s purchase last year of 13 Spanish solar park assets with more than 500 megawatts of capacity from X-Elio Energy SL, which is owned by Brookfield Renewable Partners LP and buyout firm KKR & Co....
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And from Reuters, March 31:
Chile regulator approves $3 billion Chinese takeover of Naturgy unit
Chile’s competition regulator on Wednesday approved a $3 billion takeover by China’s State Grid International Development of Spanish power company Naturgy’s Chilean unit Compania General de Electricidad (CGE)....
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Both State Grid and Three Gorges Corp. are owned by the Chinese government.
