EDP completes the sale of its 50% stake in Hydro Global to CTG
EDP completes the sale of its 50% stake in Hydro Global to CTG
Lisbon, December 23rd, 2022: Following the information released to the market on July 29th 2022,EDP - Energias de Portugal, S.A. (“EDP”) informs that the sale of its 50% stake in Hydro Global Investment Limited (“Hydro Global”) to China International Water & Electric Corporation (“CWE”), a company that belongs to China Three Gorges (“CTG”) group, is completed.
Hydro Global is a 50-50 joint venture between EDP and CTG, whose main asset is the hydro project San Gabán III in Peru with 209 MW, which is currently under construction.
The deal was closed for a total amount of US$68 million, in line with what was previously announced to the market.
The sale of its participation in Hydro Global allows EDP to maintain its growth trajectory, in compliance with the objectives set out in its 2021-2025 Business Plan, maintaining its focus on the growth in renewable generation assets, networks and in the provision of value-added services to its customers.
This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council.
EDP – Energias de Portugal. S.A.