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EDP announces sale amounting to U$ 68 million


EDP announces sale amounting to U$ 68 million - portugalbusinessesnews.com
EDP announces sale amounting to U$ 68 million - Portugal Business News

Energias de Portugal (EDP) just announced that they have completed a sale amounting to U$ 68 million for their 50% stake in Hydro Global to China International Water & Electric Corporation (CWE), a company that belongs to the China Three Gorges Corporation (CTG).


Hydro Global Investment is based in Hong Kong and is a 50-50 joint venture between EDP and CTG. The company is currently developing a 209 MW hydro project in Peru. EDP’s 50% stake in Hydro Global was acquired by the China International Water & Electric Corporation (CWE), that is a state-owned enterprise of the People’s Republic of China with activities focused on contracting overseas engineering projects. CWE has a registered capital of RMB 500 million yuan. With this new development, the holding company CTG will have a 100% ownership of the hydro project in Peru.


The sale of its stake in Hydro Global is in line with the goals set out by EDP while they maintain their focus on renewable energy. EDP’s strategic plan for 2021-2025 focuses on their commitment towards becoming a leader in the energy transition with the aim of becoming a fully Green company by 2030.


Source: https://www.portugalbusinessesnews.com/post/edp-announces-sale-amounting-to-u-68-million




#EDP #HydroGlobal #ChinaInternationalWaterandElectricCorporation #ChinaThreeGorgesCorporation #portugalnews #portugalbusinessnews













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