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Exus Management Partners (Exus) has facilitated the financial close of the sale of a 450MW portfolio, owned in partnership by Spanish family office Corporation Masaveu (Masaveu) and Belgian investors Korys, to Chinese clean energy developer China Three Gorges Europe (CTGE), who have taken a 100% equity stake in exchange for € 500million.
The deal see’s 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 continue 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.
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