China Three Gorges acquires 49 pct of EDP Renováveis’ wind farms ​​in Brazil

30 December 2014

Portuguese renewable energy company EDP Renováveis agreed with CWEI (Brasil) Participações Ltda. the sale of a 49 percent shareholding of wind farms in operation and under development in Brazil, said Portuguese power company EDP – Energias de Portugal.

In a statement sent to the Portuguese Securities Market Commission (CMVM), the EDP group, which controls 77.5 percent of EDP Renováveis, also said that the transaction with the wholly-owned subsidiary of the China Three Gorges group covers 84 megawatts in operation and another 237 megawatts under development.

The group added that CWEI (Brasil) would invest 364.8 million reais (111 million euros), including 100.8 million reais (30.6 million euros) in future co-investment for projects currently under development.

“These investments by CWEI (Brasil) will be considered for the fulfilment of the Strategic Partnership Agreement, out of a total investment of 2 billion euros to be made by CTG (including capex co-financing) in renewable power generation projects that are operational and ready to build,” the EDP group said. (macauhub/BR/CN/PT)