Portuguese power company EDP – Energias de Portugal has sold half of the 66.67 percent stake held in Brazilian power company Empresa Energia São Manoel (São Manoel) to the subsidiary of China Three Gorges (CTG) in Brazil, the group said in a statement.
In a statement issued through Portuguese market regulator CMVM the group said that this stake was held by EDP – Energias do Brasil (EDP Brasil) and was sold to CWEI (Brasil) Participações Ltda (CWEI).
The transaction took place “as part of the EDP/CTG strategic partnership agreed in December 2011 and that entered into force in May 2012,” and with this transaction, CWEI joins EDP Brasil and Companhia Furnas Centrais Elétricas as a shareholder of São Manoel, resulting in a final stake held by EDP Brasil of 33.334 percent, 33.333 percent owned by Furnas and CWEI Brasil with a stake of 33.333 percent.
Empresa de Energia de São Manoel holds the concession for construction and operation of the São Manoel hydroelectric plant, with an installed capacity of 700 megawatts, to be built on the border between the states of Mato Grosso and Pará, on the Teles Pires River.
EDP Brasil was awarded the tender for the construction of the São Manoel hydroelectric facility on 13 December, 2013, through the Terra Nova Consortium (66.6 percent owned by EDP Brasil and 33.3 percent by Furnas). (macauhub/BR/CN/EN)