EDP ​​Group sets up partnership in Hong Kong to invest in dams

22 October 2015

Portuguese electricity group EDP ​​- Energias de Portugal has established a partnership with Hydro Global Investment Ltd, a company based in Hong Kong, for dam construction projects around the world, said EDP director João Marques da Cruz.

In remarks published in the latest Macau Forum newsletter, the EDP director the partnership was a concrete example of the whole investment effort between the group and China Three Gorges, the main shareholder of EDP – Energias de Portugal .

Following another phase of privatisation of the EDP group, China Three Gorges Group became the largest shareholder after acquiring a 21.35 percent stake.

Under the sales contract for the sale of the stake owned by the Portuguese State, the Chinese group undertook to invest 2 billion euros in renewable energy projects, and, according Marques da Cruz, 50 percent of this objective has already been achieved, including not only wind but also hydropower.

The director also said that the economic crisis in Brazil, where EDP and China Three Gorges have three joint investments, had little effect on the business, given that “we are talking about extremely long term investments, such as a dam where the repayment period is 75 years.”

In relation to Mozambique and future projects in the electricity sector, Marques da Cruz expressed the interest of both the EDP and China Three Gorges, saying “we are open to considering opportunities, particularly in the hydro sector.” (macauhub/BR/CN/MZ/PT)