EDPR agrees to sell 49% of Eneop to China Three Gorges

Dec 6, 2013 - EDP Renovaveis (ELI:EDPR), the green energy arm of Portuguese power utility EDP (ELI:EDP), has reached an agreement to sell 49% in domestic wind power projects developer Eneop to China Three Gorges (CTG), EDP Renovaveis said today in a regulatory filing.

The stake, of equity and shareholder loans in Eneop, is directly and indirectly owned by EDPR Europe.

Considering the agenda of the asset splitting process at Eneop, the transaction is expected to be completed in 2015.

The sale was agreed within a strategic partnership signed between EDP and CTG in December 2011. The partnership also envisages an investment of EUR 2 billion (USD 2.733bn) by CTG by 2015.

Eneop was the winner of licences for the installation of 1,200 MW of wind power capacity in Portugal. This year, this capacity is seen to be boosted to 1,335 MW.

(EUR 1 = USD 1.367)

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