Three Gorges Dam Corporation aims for 1 billion USD deal

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China Three Gorges Corporation and State Power Investment Corp are two of the bidders for the 1-gigawatt wind energy portfolio owned by China’s Master Group, Bloomberg, citing people familiar with the matter, said, citing people familiar with the matter. Chinese owned.

Ningxia-based Master Group’s assets could be valued at around $1 billion, according to the source. These people said the process could be delayed or broken or Master Group could decide not to continue selling.

Representatives for State Power Investment were not immediately available for comment, while calls to the Three Gorges Group and Master Group media departments remained unanswered.

China’s state-owned energy giants, with pockets full of cash, are looking for green deals as the government pushes to reduce emissions and be carbon neutral by 2060. Hiep has bought stakes in wind power companies and solar parks in Europe, and in August bought Dubai-based Alcazar Energy Partners.

Founded in 1993, Master Group started out as a textile export company. The company has since diversified into the sustainable energy sectors and now produces wind, solar, and waste electricity in China.

Several private energy companies are looking to sell assets to help improve cash flow as the government grapples with a deficit in renewable energy subsidies. Bloomberg expects the shortfall to last through 2049, delaying payments from property owners.

Source: – Translated by