Exus closes the sale of eleven Spanish wind farms to Chinese clean energy developer

Exus Management Partners (Exus), experts in powering sustainable investments, has facilitated the financial close of the sale of a 450 MW renewable energy portfolio to Chinese clean energy developer China Three Gorges Europe (CTGE).
Exus closes the sale of eleven Spanish wind farms to Chinese clean energy developer
Courtesy of NREL

The portfolio, actually two portfolios - Cefiro and Windrose - consists of eleven wind farms and one solar farm, located in the Castilla y León region of Spain. Thus far it has been joint-owned by Spanish family office Corporation Masaveu (Masaveu) and Belgian investors Korys. Exus will continue in its role as asset manager across the combined sites.

Despite the rapid growth of renewable energy in the last few years, with investments reaching $174 billion in the first half of 2021 alone according to BloombergNEF, for many institutional investors without experience investing in these assets, it is vital to collaborate with experienced consultants throughout the lifetime of a project, from development to management, to mitigate risk and navigate the global renewable energy market.

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 percent of Cefiro and 60 percent of Windrose, with 30 percent owned by Belgian family office Korys and the remaining 10 percent by minority stakeholders.

“The assets have achieved strong returns year-on-year throughout the duration of their ownership” said Carlos Tello Garcia, Co-Founder and Chief Operating Officer, Exus. “We look forward to working with China Three Gorges in more depth as we continue to manage their new assets into the foreseeable future.”

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