Friday, May 27, 2016

EDP ​​closes new deal with Chinese shareholder. You will get more money – Mad Money

EDP and its largest shareholder, China Three Gorges (CTG) signed this afternoon on Friday, a new partnership agreement that allowing the Chinese company to invest more money in the Portuguese electricity projects, in addition to two thousand million already invested.

on the table, he said the CEO of EDP, Antonio Mexia, are dams and wind projects in Brazil and wind farms offshore in France and the United Kingdom. But ultimately, he adds, the CTG can invest in all projects you want inside of which were presented in the strategy by 2020.

“In this plan we expect to invest 1.5 billion per year and will have a CTG important part in the co-investment in these projects, “said the Portuguese manager.

that’s why for the CEO of the Portuguese company and also to the president of China Three Gorges, Lu Chun, this agreement is of utmost important because it marks the beginning of a new phase in the partnership between the two companies and that is to develop joint projects and not just enter the capital of parks and dams already in operation.

it is that the signed agreement gives also conclude the partnership that the two companies have had since privatization and that provided that the CTG apply two billion euros in buying minority stakes in wind farms and dams.

that is, at this point is already set where the CTG will invest 600 million euros missing to reach the two billion and says Mexia, will be in wind farms in Italy, Poland and the Iberian Peninsula.

it is not therefore no wonder that the signing of the new memorandum of understanding – which took place at the Electricity Museum – have been present throughout the administration of CTG, the entire executive board of EDP and even some elements of the General Council and the electric Supervision, as President Eduardo Catroga or the chairman of the general meeting, Mr Vitorino.

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