Shanghai Electric Power considers bid for ACS renewable assets

HONG KONG: Shanghai Electric Power Co is considering a bid for Spanish renewable energy assets owned by builder ACS’s Zero-E unit, according to people familiar with the matter.

The state-controlled Chinese utility is working with a financial adviser on an offer for the assets, which could be valued at about €500mil, the people said, asking not to be identified because the deliberations are private. Other energy companies and investment funds have also shown an interest in acquiring the Spanish portfolio, the people said.