China Three Gorges Corp is reportedly considering a takeover bid for Saeta Yield SA, a Spanish clean energy producer owned by Brookfield Asset Management Inc's portfolio, Bloomberg reported on Monday.
To navigate potential regulatory obstacles, particularly in overlapping markets like Portugal, the Chinese state-owned power company is exploring the possibility of partnering with another entity for the transaction, according to sources familiar with the matter cited by the news agency.
Saeta Yield boasts a portfolio comprising 1,188 megawatts of clean energy capacity across Spain and Portugal, encompassing wind, solar photovoltaic (PV), and solar thermal power plants, as detailed on its corporate website.
Brookfield's portfolio company TerraForm Power had previously taken Saeta Yield private in a transaction valued at USD 1.2 billion (EUR 1.12 billion) in 2018.
