Portugal: Aguas de Portugal invests in energy production

6 February 2009

Lisbon, Portugal, 06 Feb – State-owned Aguas de Portugal is preparing an investment of over 600 million euros to move into the production of electricity from renewable sources, said company president, Antonio Branco.

Branco told news agency, Reuters, that the aim was “to achieve an output of 170 megawatts in four years, with prospects of income in the region of 140 million euros.”

Antonio Branco emphasized that the investments would be funded “with recourse to the company’s own and its partners’ capital, to the banks and possibly to the European Investment Bank.”

Its partners will be Galp Energia and EDP – Energias de Portugal, he revealed, adding that the company is also in the process of establishing a sub-holding that will join the assets linked to this business sector.

With a total investment of 400 million euros, the two new co-managed facilities should produce electricity from fuel derived from waste material and from the waste produced in water treatment plants.

For biomass, the company’s consortium with A.Mesquita and Isolux will build two plants in Viana do Castelo and Alijo, which will be operational in 2011 and have an output of 22 kilowatts.

For wind power, Aguas de Portugal is planning to invest in the western part of Lisbon near the existing water treatment plants and land.

As well as providing water for public consumption, Aguas de Portugal also operates in the areas of water treatment and waste treatment.

In 2007, the company’s turnover reached 553.2 million euros, registering net profits of 7.9 million euros. (macauhub)