Portugal’s EDP to invest US$1.118 billion in Brazil

4 March 2010

Sao Paulo, Brazil, 4 March – EDP plans to invest 2 billion relas (US$1.118 billion) over the next two years in Brazil, the chairman of the Portuguese group said in Brazil Wednesday.

Whilst presenting the group’s results for 2009, António Pita de Abreu noted that two thirds of total investment would be applied in electricity production and a third in electricity distribution.

“Between 2005 and 2012 we hope to quadruple the group’s installed capacity to around 2,177 megawatts, the biggest percentage growth in the Brazilian electricity sector,” he noted.

Amongst the investments for the next two years, the highlight is construction of the Tramandaí wind farm, with production of 70 megawatts in the state of Rio Grande do Sul, in southern Brazil, work on which is due to begin this month and finish at the end of the year.

Currently, the Portuguese group operates 14 megawatts in two wind farms in the state of Santa Catarina, also in southern Brazil.

Another of the group’s projects that is still at an “early stage” is construction of a thermal power station in Rio de Janeiro state, in partnership with state company Petrobras, with an installed capacity of 500 megawatts.

In 2009, EDP’s profit in Brazil rose 60.8 percent to 625 million reals against 2008, the group’s “best ever result”, the chairman said.

In Brazil EDP controls distribution companies, Bandeirante (Sao Paulo), Escelsa (Esprito Santo state) and Enersul (Mato Grosso do Sul), as well as generation companies, EDP Lajeado, Energesy and Enerpeixe, and sales company Enertrade. (macauhub)