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.
The expansion into Spain follows CTG’s purchase of a 23 per cent stake in Portugal’s largest utility EDP-Energias de Portugal. According to X-Elio, the photovoltaic plants were built between 2019 and 2020, and are fully operational with a total capacity of just over 500 MW.