Portugal | HK consortium pays 288 million euros for wind power company

A consortium formed equally by Cheung Kong Infrastructure Holdings Limited (CKI) and Power Assets Holdings Limited (PAH) paid 288 million euros for Portuguese wind power company Iberwind, according to a market statement issued in Hong Kong Friday.
A statement issued through the Stock Exchange said the two companies controlled by Hong Kong billionaire Li Ka-Shing will each pay a maximum of 144 million euros for the wind company, owned thus far by Portuguese and Spanish venture capital company Magnum Capital Industrial Partners.
Iberwind has 31 wind farms producing 684 megawatts of electricity, a figure that represents about 15 percent of installed wind power capacity in Portugal. The statement said this acquisition allows the consortium to expand its “renewable energy platform” globally, being consistent with the group’s strategy “to invest in energy production.”
Venture capital company Magnum Capital Industrial Partners, founded in 2006 with initial capital of 866 million euros, aims to invest in and develop Spain and Portugal based companies.
The Portuguese media reported that this is the second wind asset deal in Portugal in the last week, after Italian group Enel (Ente Nazionale per l’elettrica energy) sold Finerge – Gestão de Projectos Energéticos through its subsidiary Enel Green Power Espana to an Australian investment fund for 900 million euros.  MDT/Macauhub