Darby buys stake in Korean wind farm

Franklin Templeton's private equity arm places a value of $77 million on Korea's largest wind farm and negotiates a 32% stake along with board representation.

Darby Overseas Investments, the private equity arm of Franklin Templeton Investments, has acquired a 32.4% equity stake in Gangwon Wind Power for W34 billion $25 million.

Gangwon Wind Power was established in 2001 to construct a wind farm in Gangwon Province in eastern Korea. The wind farm is now the largest in the country û and among the largest in Asia û with more than half of Korea's installed wind power capacity, as of the end of 2007. Total...

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