China Three Gorges is negotiating to purchase a German onshore wind portfolio from NEAG Norddeutsche Energie AG. The assets comprise four operating farms totaling 312 megawatts. The seller values the bundle at roughly €300 million ($343 million). Sources declined to be named, and both companies refused comment.

Success would extend China Three Gorges’ foothold in Germany, where it already owns the 288‑megawatt offshore Meerwind project acquired from Blackstone in 2016. Germany leads Europe’s wind expansion, adding a record 5.3 GW of onshore capacity last year. Developers are racing to lock in sites as Berlin’s subsidy regime shows signs of softening.

The deal underscores Chinese investors’ strategy to diversify into Europe’s renewable market while domestic policy uncertainty fuels outbound M&A. China Three Gorges already controls sizable assets in Spain and holds a 22% stake in Portuguese utility EDP. A completed transaction would push its European onshore capacity past 600 megawatts, sharpening competition for future auction slots.

Investors are eyeing Germany’s aggressive onshore auction schedule, where the 2026 round attracted more than twice the offered capacity. The heightened demand reflects fears that subsidy reforms could curb new builds. If China Three Gorges secures the NEAG assets, it will be positioned to bid aggressively in upcoming auctions, potentially reshaping the competitive field.