Cheung Kong Infrastructure Holdings acquires 50% stake in Portuguese wind operator
Cheung Kong Infrastructure Holdings Limited (CKI) announced last week that it has entered into an agreement to pay a shares consideration of approximately €144 million (approximately HK$1.25 billion) to acquire a 50% interest of Iberwind - Desenvolvimento e Projectos, S.A., a wind energy company in Portugal.
Cheung Kong and Power Assets Holdings will each hold 50% in the Portuguese company, through a joint venture.
Completion is subject to approval from the Portuguese Competition Authority and is expected to take place by the end of 2015.
When this transaction is completed, CKI will become a new player in Portugal’s energy sector alongside a number of Asia Pacific investors, such as First State from Australia, State Grid Corporation of China and China Three Gorges Corporation from China, as well as Marubeni from Japan.
Iberwind - Desenvolvimento e Projectos SA was controlled by Iberian investor Magnum Capital, which earlier this year decided to sell it. Mangnum Capital controlled 65 % of the shares of the company.
According to reports, Brookfield Renewable Energy, US private equity firm Cerberus Capital Management, and EFG Hermes of Egypt were also bidding for the wind firm.
Country news
-
-
July 09, 2014
Iberdrola signs concession agreement for hydroelectric project in Portugal
Iberdrola Generación, S.A. has entered into a concession agreement with the Portuguese State, represented by the Agencia Portuguesa do Ambiente, according to which the company will have the right to build and exploit the 1,158MW Alto Tâmega hydroelectric complex. Read more -
July 30, 2014
Ventinveste and Ferrostaal to invest in wind farms in Portugal
Ventinveste, a consortium of some of Portugal’s top energy and engineering companies, and Ferrostaal GmbH, a German renewable energy project developer with investments worldwide, will build four wind farms in the country, in a €220 million investment that will strengthen the country’s renewable energy cluster. Read more -
December 01, 2014
Wren House and Macquarie fund buy Eon assets in Spain
E.ON has agreed to sell all of its Spanish and Portuguese businesses to Macquarie European Infrastructure Fund IV (Macquarie Group) and Wren House for an enterprise value of €2.5 billion (US$3.11 billion). Read more -
March 30, 2015
EDP to receive EUR 500 million in securitization of electricity tariff deficit in Portugal
EDP Serviço Universal, S.A., a subsidiary of EDP Group, will receive €500 million (US$544.4 million) from Tagus Sociedade de Titularização de Créditos, S.A. for a portion of the 2014 tariff deficit in Portugal. Read more -
April 27, 2015
EU Commission authorises demonstration offshore scheme in Portugal
The European Commission has found a Portuguese scheme aimed at promoting renewable energy technologies to be in line with EU state aid rules. Read more
