Exus closes sale of 450 MW renewable portfolio from Corporacion Masaveu to China Three Gorges

Exus Management Partners (Exus) has facilitated the financial close of the sale of a 450 MW portfolio, owned in partnership by Corporation Masaveu (Masaveu) and Korys, to China Three Gorges Europe (CTGE), who have taken a 100% equity stake in exchange for EUR500 million (US$587.21 million). 

The deal, which was initially agreed in February 2021, will make CTGE take ownership of 11 wind farms and one photovoltaic field across two portfolios - Cefiro and Windrose - located in the Castilla y León region of Spain.

Exus originated, structured, and managed the Cefiro and Windrose portfolios for Masaveu, starting in 2015 and 2016 respectively, and continues to manage the assets today. Before CTGE’s acquisition, Masaveu owned 100% of Cefiro and 60% of Windrose, with 30% owned by Belgian family office Korys and the remaining 10% by minority stakeholders.