China Yangtze Power to take minority stake in 288-MW Meerwind Sued/Ost offshore wind complex
China Yangtze has plans to acquire a minority stake in the 288 MW Meerwind Sued / Ost offshore wind farm park in Germany. In parallel, its parent company China Three Gorges Corp (CTG) will hold a majority stake in the project.
Blackstone has agreed to sale its whole stake in the project (80%) to both Chinese companies for €645.4 million (US$ 720.5 million).
According to sources, China Yangtze would pay €193.6 million for the purchase of the 30% stake in the offshore wind farm park, while the remaining 50% stake would be acquired by CTG. Windland Energieerzeugungs GmbH owns the remaining 20% of the facility.
Situated off the German coast in the North Sea, the 80-turbine, 288 MW windfarm produces enough clean energy to power approximately 360,000 homes. Meerwind windfarm was fully commissioned in February 2015.
In June, we informed that Blackstone Energy Partners and affiliated private equity funds have entered into a definitive agreement to sell its majority interest in WindMW GmbH, ownner of German offshore wind farm Meerwind, to China Three Gorges Corporation. Terms of the transaction were not disclosed.
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