CKI, PAH divest 726 MW Iberwind portfolio

CK Infrastructure Holdings Limited (CKI) and Power Assets Holding (PAH) have signed an agreement to divest Iberwind portfolio in Portugal to JP Morgan's European wind energy platform Ventient Energ.

Iberwind was acquired by CKI and its associate company, PAH, in 2015. Each holds a 50% interest in the business.

The transaction would result in a gain of approximately HK$1.1 billion (US$142 million) for CKI (including its share of PAH), and approximately HK$0.8 billion (US$103.2 million) for PAH. Completion of the transaction is expected to take place in the fourth quarter of the year.

Iberwind has 31 wind farms in operation with over 320 wind turbines and an installed capacity of 726 MW.