Portuguese power company Energias de Portugal (EDP) and China Three Gorges (CTG) will form a partnership to design, build and operate dams in Africa and Latin America, said a spokesperson from the Chinese group, the largest shareholder of the EDP.
“This partnership will create a new subsidiary owned 50 percent by each group, which will be based in Macau and is expected to apply for global energy market opportunities for design, construction and operation of small and medium-sized hydropower projects,” the spokesperson told Portuguese news agency Lusa.
The agreement, signed on Monday during the first visit to Portugal by the new president of CTG, Lu Chun, outlines development of hydropower deals in African and Latin American countries.
In a statement, EDP reported on the inauguration of the New Energy World (NEW) facilities, marking the beginning of technological cooperation with CTG announced earlier this year.
The new centre, in Sacavém on the outskirts of Lisbon, will “devote itself to research in new energy, mutual technical assistance, further supporting joint participation in international projects carried out by other entities.”
The state-owned China Three Gorges Group became the largest shareholder of EDP in 2012, when it paid 2.7 billion euros for 21.3 percent of the Portuguese power company. (macauhub/CN/MO/PT)