News

EDP concludes the sale of 50% of Hydro Global to China’s CTG

EDP – Energias de Portugal informed the market on the 23rd of December that the sale of its 50% stake in Hydro Global Investment Limited to China International Water & Electric Corporation (CWE), a company that is part of the China Three Gorges Group (CTG), is complete.

The transaction was concluded for a total of US$68 million (64 million euros), in line with what was previously announced to the market, the electricity company said in a statement to CMVM.

Hydro Global was a 50-50 joint venture between EDP and CTG, whose main asset is the San Gabán III hydroelectric project in Peru, with 209 MW, currently under construction. With this transaction, CTG now owns 100% of the project.

(Source: Jornal de Negócios)