China Development Bank to build fund with UK private equity co

The fund, which is set to be in the $3-5 billion range, will be marketed in China by the CDB and in Europe and the US by Terra Firma.

Terra Firm already has experience of the renewables sector from its September 2009 acquisition of Everpower for a reported $350 million.

Private equity firms have been increasingly involved in the wind power sector over recent months. In August, US firm Platinum Equity acquired Clipper Windpower for an undisclosed fee.

In January, North Sea offshore wind farm project Gode Wind II, planned for a site 38km north of the German island of Norderney has been sold to Danish investor Brancor Capital Partners.

Late last year, British private equity firm Clyde Blowers acquired wind turbine gearbox manufacturer Moventas for €100 million.