China Three Gorges takes 49% stake in 644MW of EDPR wind

China Three Gorges (CTG) has made its expected move to invest in Portuguese wind giant EDPR.

EDPR says it has agreed to sell CTG a 49% equity stake in EDP Renováveis Portugal (EDPR PT), along with 25% of outstanding shareholder loans, for a total of €359 ($474m).

The deal covers 615MW of operational wind, an average of six years old, plus 29MW that is "ready to build".

EDPR – which has about 7.8GW of capacity around the world – says its Portuguese operation made a net profit of €43m in the last financial year.

The investment by the Chinese giant follows its purchase a year ago of a Log in to read complete article.

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