International Power, which operates several gas and coal-fired plants in Britain, has splashed out €868m (£500m) in cash for a portfolio of wind farms in Germany and Italy.
The deal, announced last night, is a clear sign that the company expects power prices to rise.
Under the terms of the deal, International Power is buying the Trinergy wind portfolio from a group of private investors connected with the Matrix Group and CJS Capital Partners.
The wind portfolio has a total capacity of 648 megawatts and the deal more than doubles International Power's current wind capacity to over 1,000 MW.
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