China Three Gorges €1.6 billion acquisition of Meerwind

Overview:

• China Three Gorges (CTG), the owner of the world's largest hydropower plant, has acquired an 80% stake in German offshore wind farm Meerwind from US fund Blackstone.
• The value of the transaction has not been publicly disclosed but press reports citing sources close to the deal say the buyer paid around €1.6 billion.
• Ownership of Meerwind is held by joint-venture company, WindMW, of which CTG is now the major shareholder. 
• Windland Energieerzeugungs holds the remaining 20% in WindMW, which supplies power to around 360,000 German households. 

Ben Naylor - Editor EMEA