China’s carbon neutrality target gets a leg-up as Three Gorges unit preps for Shanghai IPO
Photo: Karsten Würth/ Unsplash.com
State-owned China Three Gorges, best known as the operator of the world’s largest hydroelectric power plant, is preparing to list a wind and solar power subsidiary in Shanghai in what would be the country’s biggest domestic IPO in more than a year.
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The listing comes as the parent company seeks to establish a new unit to hold international assets.
A deal would value the company, owned by KKR and Brookfield, above $569 million.
The expansion into Spain follows CTG’s purchase of a 23% stake in Portugal’s largest utility EDP.
Three Gorges is considering merging its own Brazilian assets with EDP’s ops in the country.
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